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Morgan Stanley plans contingent income autocallables tied to Netflix
By Tali Rackner
Norfolk, Va., Nov. 10 – Morgan Stanley plans to price contingent income autocallable securities due Nov. 30, 2017 linked to Netflix, Inc. stock, according to an FWP filing with the Securities and Exchange Commission.
If Netflix shares close at or above the downside threshold level, 50% of the initial share price, on a monthly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 13%.
The notes will be called at par plus the contingent coupon if Netflix shares close at or above the initial share price on any of the quarterly determination dates beginning Feb. 29, 2016.
If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
Morgan Stanley & Co. LLC is the agent.
The notes will price on Nov. 24 and settle on Nov. 30.
The Cusip number is 61761JP94.
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