Morgan Stanley plans contingent income autocallables on Exxon Mobil

By Sarah Lizee

Olympia, Wash., Sept. 11 – Morgan Stanley Finance LLC plans to price contingent income autocallable securities due Sept. 16, 2022 linked to the common stock of Exxon Mobil Corp., according to an FWP filing with the Securities and Exchange Commission.

If the shares close at or above the downside threshold level, 70% of the initial share price, on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 8.1%.

The notes will be called at par of $10 plus the contingent coupon if the shares close at or above the initial share price on any of the first 11 quarterly determination dates.

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.

The notes will be guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.

The notes are expected to price Sept. 13.

The Cusip number is 61770C194.

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