New Issue: Morgan Stanley prices $2.55 million contingent income securities linked to Russell 2000

By Angela McDaniels

Tacoma, Wash., March 14 - Morgan Stanley priced $2.55 million of contingent income securities due March 15, 2028 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annualized rate of 7% if the index closes at or above the downside threshold level, 50% of the initial level, on the determination date for that month. Otherwise, no coupon will be paid that month.

If the index finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent monthly payment. Otherwise, investors will be fully exposed to the index's decline.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley
Issue:	Contingent income securities
Underlying index:	Russell 2000
Amount:	$2,554,000
Maturity:	March 15, 2028
Coupon:	Notes will pay coupon at rate of 7% per year if index closes at or above downside threshold level on determination date for that month; otherwise, no coupon will be paid that month
Price:	Par
Payout at maturity:	If index finishes at or above downside threshold level, par plus contingent monthly payment; otherwise, full exposure to index's decline
Initial index level:	940.26
Downside threshold:	470.13, 50% of initial level
Pricing date:	March 12
Settlement date:	March 15
Agent:	Morgan Stanley & Co. LLC
Fees:	3.5%
Cusip:	61761JDN6

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