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Morgan Stanley to price trigger autocallables linked to Eli Lilly
By Angela McDaniels
Tacoma, Wash., April 23 – Morgan Stanley Finance LLC plans to price trigger autocallable contingent yield notes due April 29, 2022 linked to the common stock of Eli Lilly & Co., according to an FWP filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
Each quarter, the notes will pay a contingent coupon at the rate of 8% per year if Eli Lilly shares close at or above the downside threshold level, 69% to 74% of the initial share price, on the observation date for that quarter. The exact downside threshold level will be set at pricing.
After six months, the notes will be automatically called at par of $10 if Eli Lilly shares close at or above the initial share price on any quarterly observation date.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par. 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. UBS Financial Services Inc. is acting as dealer.
The notes will price April 26.
The Cusip number is 61768Y208.
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