New Issue: Morgan Stanley prices $959,000 contingent income notes linked to Russell 2000

By Susanna Moon

Chicago, July 31 - Morgan Stanley priced $959,000 of contingent income notes due July 31, 2028 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annualized rate of 7% if index closes at or above its 50% barrier level on the determination date for that month.

The payout at maturity will be par plus the final contingent coupon unless the index finishes below the 50% barrier level, in which case investors will be fully exposed to any losses.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley
Issue:	Contingent income notes
Underlying index:	Russell 2000
Amount:	$959,000
Maturity:	July 31, 2028
Coupon:	7% annualized for each month that index close at or above barrier level on monthly determination date
Price:	Par
Payout at maturity:	Par plus any contingent coupon unless index finishes below barrier level, in which case fully exposure to any losses
Initial index levels:	1,048.51
Barrier level:	524.255, 50% of initial level
Pricing date:	July 26
Settlement date:	July 31
Agent:	Morgan Stanley & Co. LLC
Fees:	3.5%
Cusip:	61761JJS9

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