New Issue: Morgan Stanley prices $2.31 million contingent income notes on index, fund

By Susanna Moon

Chicago, March 1 - Morgan Stanley priced $2.31 million of contingent income securities due Feb. 28, 2028 linked to the Russell 2000 index and the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a contingent monthly payment at an annualized of 6% if each component closes at or above the downside threshold level, 55% of the initial level, on the determination date for that month.

The payout at maturity will be par unless either the index or fund finishes below the downside threshold level, in which case investors will be fully exposed to any losses.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley
Issue:	Contingent income securities
Underlying components:	Russell 2000 index and the iShares MSCI Emerging Markets index fund
Amount:	$2.31 million
Maturity:	Feb. 28, 2028
Coupon:	6% annualized, payable monthly, if each component closes at or above coupon barrier level on determination date for that month
Price:	Par
Payout at maturity:	Par unless either component finishes below the downside threshold level, in which case full exposure to any losses
Initial levels:	895.84 for index and $42.70 for fund
Downside threshold levels:	492.712 for index and $23.485 for fund, 55% of initial level
Pricing date:	Feb. 25
Settlement date:	Feb. 28
Agent:	Morgan Stanley & Co. LLC
Fees:	3%
Cusip:	61761JDD8

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