New Issue: Morgan Stanley sells $924,000 contingent income notes on Russell, Stoxx

By Susanna Moon

Chicago, Dec. 23 – Morgan Stanley priced $924,000 of contingent income participation securities due Nov. 26, 2029 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 month coupon at an annual rate of 6% if each index closes at or above its coupon barrier level, 65% of its initial level, on the observation date for that month.

The payout at maturity will be par plus the final coupon unless either index finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley
Issue:	Contingent income participation securities
Underlying indexes:	Russell 2000 and Euro Stoxx 50
Amount:	$924,000
Maturity:	Dec. 24, 2029
Coupon:	6% for each month that both indexes close at or above coupon barrier level on the observation date for that month
Price:	Par
Payout at maturity:	Par plus coupon unless either index finishes below its barrier level, in which case investors will be fully exposed to any losses of the worst performing index
Coupon barriers:	777.362 for Russell and 2,041.832 for Euro Stoxx; 65% of initial levels
Trigger levels:	597.971 for Russell and 1,570.64 for Euro Stoxx; 50% of initial levels
Pricing date:	Dec. 19
Settlement date:	Dec. 24
Agent:	Morgan Stanley & Co. LLC
Fees:	3.5%
Cusip:	61761JVE6

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