Morgan Stanley plans contingent income autocallables linked to Delta

By Susanna Moon

Chicago, Sept. 19 – Morgan Stanley plans to price contingent income autocallable securities due Oct. 1, 2015 linked to Delta Air Lines, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 11.5% if Delta stock closes at or above the 75% downside threshold level on a determination date for that quarter.

The notes will be redeemed at par of $10 plus the contingent payment if the stock closes at or above the initial price on any of the first three determination dates.

The payout at maturity will be par plus the contingent payment unless the stock finishes below its downside threshold level, in which case investors will be fully exposed to any losses.

Morgan Stanley & Co. LLC is the agent.

The notes will price on Sept. 26 and settle Oct. 1.

The Cusip number is 61764C127.

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