New Issue: Morgan Stanley prices $13.48 million trigger contingent coupon notes linked to S&P 500

By Toni Weeks

San Diego, Oct. 31 - Morgan Stanley priced $13.48 million of trigger contingent coupon optimization securities due Oct. 30, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index closes at or above the 50% barrier level on a monthly observation date, the notes will pay a contingent coupon at an annualized rate of 6.3%.

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.

Issuer:	Morgan Stanley
Issue:	Trigger contingent coupon optimization securities
Underlying index:	S&P 500
Amount:	$13,483,000
Maturity:	Oct. 30, 2020
Contingent coupon:	6.3%, payable monthly, if the index closes at or above 50% 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:	1,411.94
Coupon barrier/trigger level:	705.97, 50% of initial value
Pricing date:	Oct. 26
Settlement date:	Oct. 31
Agent:	Morgan Stanley & Co. LLC
Fees:	4%
Cusip:	61755S784

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