A magnetic storage medium formed on a front major surface of a tape substrate defines a multiplicity of longitudinal data recording and playback tracks, each track having a nominal lateral location relative to the other tracks: and a predetermined optically manifested track servo pattern defined on the back major surface of the tape for indicating lateral displacement of the tape from a nominal lateral location of the track during tape movement across a read/write head. A magnetic tape recording and playback system employing the magnetic storage medium is also disclosed.