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Morgan Stanley eyes 9.35% contingent income autocalls tied to Exxon
By Sarah Lizee
Olympia, Wash., Dec. 14 – Morgan Stanley Finance LLC plans to price contingent income autocallable securities due Dec. 27, 2021 linked to the common stock of Exxon Mobil Corp., according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.35% if the underlying stock closes at or above the 75% downside threshold on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial share price on any of the first 11 determination dates.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below its 75% downside threshold, in which case investors will be fully exposed to the losses.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is handling distribution.
The notes are expected to price on Dec. 21.
The Cusip number is 61768W376.
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