New Issue: Morgan Stanley prices $2.06 million trigger contingent coupon notes linked to Russell

By Toni Weeks

San Luis Obispo, Calif., March 27 - Morgan Stanley priced $2.06 million of trigger contingent coupon optimization securities due March 31, 2021 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index closes at or above the 60% barrier level on a monthly observation date, the notes will pay a contingent coupon at an annualized rate of 6.2%.

The payout at maturity will be par plus the contingent payment unless the final index level is less than the barrier level, in which case investors will be fully exposed to any index losses.

Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as dealer.

Issuer:	Morgan Stanley
Issue:	Trigger contingent coupon optimization securities
Underlying index:	Russell 2000
Amount:	$2,059,200
Maturity:	March 31, 2021
Contingent coupon:	6.2%, payable monthly, if the index closes at or above 60% barrier level on a monthly observation date
Price:	Par of $10
Payout at maturity:	If final index level drops below barrier level, full exposure to losses; otherwise par plus contingent coupon
Initial index level:	945.85
Coupon barrier/trigger level:	567.51, 60% of initial value
Pricing date:	March 25
Settlement date:	March 28
Agent:	Morgan Stanley & Co. LLC with UBS Financial Services Inc. as dealer
Fees:	4%
Cusip:	61761M656

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