Morgan Stanley plans callable contingent income notes on Russell, Stoxx

By Sarah Lizee

Olympia, Wash., Jan. 14 – Morgan Stanley Finance LLC plans to price callable contingent income securities due Jan. 31, 2023 linked to the least 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 are guaranteed by Morgan Stanley.

Every six months, the notes will pay a contingent coupon at the rate of 6.25% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date that period.

If each index finishes at or above its barrier level, 70% of its initial level, the payout at maturity will be par plus the final coupon.

If any index finishes below its barrier level, investors will lose 1% for every 1% decline of the lesser performing index.

After six months, the notes will be callable at par on any coupon payment date.

Morgan Stanley & Co. LLC is the agent.

The notes will price on Jan. 24.

The Cusip number is 61770FBQ8.

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