Morgan Stanley plans callable contingent income notes on three indexes

By Sarah Lizee

Olympia, Wash., May 13 – Morgan Stanley Finance LLC plans to price callable contingent income securities due June 5, 2024 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon of 7.5% to 9.5% per annum if each index closes at or above its 70% coupon barrier on the related monthly observation date.

The notes are callable at par on any quarterly redemption date beginning on June 4, 2020.

The payout at maturity will be par unless any index finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing index.

Morgan Stanley & Co. LLC is the agent.

The notes will price on May 31.

The Cusip number is 61769HAB1.

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