Morgan Stanley plans contingent income notes on Russell, Euro Stoxx

By Marisa Wong

Madison, Wis., Dec. 3 - Morgan Stanley plans to price contingent income participation securities due Dec. 26, 2023 linked to the worse 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 coupon of 6% per year if the closing level of each index is at or above its respective coupon barrier level, 75% of its initial level, on the related observation date for that month. Otherwise, no coupon will be paid that month.

If the final level of each index is greater than or equal to its initial level, the payout will be par plus the index return of the worse performing index and the final monthly coupon.

If the final level of each index is greater than or equal to its 50% downside threshold level, the payout will be par plus the final monthly coupon, if any.

Otherwise, investors will be fully exposed to the decline of the worse performing index from its initial level.

Morgan Stanley & Co. LLC is the agent.

The notes will price on Dec. 20 and settle on Dec. 26.

The Cusip number is 61761JNC9.

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