Morgan Stanley plans contingent income buffered autocalls on Russell, Dow

By Sarah Lizee

Olympia, Wash., Sept. 11 – Morgan Stanley Finance LLC plans to price contingent income buffered autocallable securities due Sept. 18, 2024 linked to the worst performing of the Russell 2000 index and the Dow Jones industrial average, according to an FWP filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

Each quarter, the notes will pay a contingent coupon at the rate of 7% per year if each underlier closes at or above its coupon threshold level, 80% of its initial level, on the observation date for that quarter.

After one year, the notes will be automatically called at par plus the coupon if each underlier closes at or above its initial level on any quarterly determination date.

The payout at maturity will be par plus the coupon unless either underlier finishes below its 80% buffer level, in which case investors will lose 1% for every 1% that the lesser-performing underlier declines beyond 20%.

Morgan Stanley & Co. LLC is the agent.

The notes will price on Sept. 13.

The Cusip number is 61769HVJ1.

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