Morgan Stanley plans contingent income participation notes on indexes

By Toni Weeks

San Luis Obispo, Calif., Dec. 5 – Morgan Stanley plans to price contingent income participation securities due Dec. 11, 2024 linked to the worst performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 6% if each index closes at or above its 65% coupon barrier level on the observation date for that quarter.

If the final level of each index is greater than its initial level, the payout at maturity will be par plus the return of the worst-performing index plus the contingent coupon.

If the final level of either underlying index is less than or equal to its initial level but each index finishes at or above its respective downside threshold level, 70% of the initial level, the payout will be par plus the coupon.

If either index falls below the 70% downside threshold level, investors will be fully exposed to the decline of the worst-performing index.

Morgan Stanley & Co. LLC is the agent.

The notes will price Dec. 8 and settle Dec. 11.

The Cusip number is 61761JVG1.

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