Morgan Stanley to price contingent income notes on Russell, Stoxx

By Devika Patel

Knoxville, Tenn., Dec. 2 – Morgan Stanley plans to price contingent income securities due Dec. 23, 2030 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.

Through December 2020, the notes will pay a monthly coupon at an annual rate of 7%. The coupon will be contingent beginning in January 2021, paid at an annual rate of 7% if each index closes at or above its barrier level of 50% on the determination date for that quarter.

If each index finishes at or above its barrier level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to any losses of the worst performing index.

Morgan Stanley & Co. LLC is the agent.

The notes (Cusip: 61761JR43) will price on Dec. 18 and settle on Dec. 23.

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