In this note, a new formulation of Model Predictive Control (MPC) framework with no stability-related terminal constraint is proposed and its stability is proved under mild standard assumptions. The novelty in the formulation lies in the use of time-varying monotonically increasing stage cost penalty. The main result is that the 0-reachability prediction horizon can always be made stabilizing without any terminal constraints provided that the increasing rate of the penalty is made sufficiently high. Moreover, it is shown through an illustrative example that the time varying penalty may improve the resulting closed-loop performance computed with the original stage-cost when compared to the traditional MPC formulation with final constraint on the state. (C) 2017 Elsevier Ltd. All rights reserved.