Morgan Stanley plans trigger contingent coupon notes tied to S&P 500

By Susanna Moon

Chicago, Jan. 8 - Morgan Stanley plans to price trigger contingent coupon optimization securities due Jan. 29, 2021 linked to the S&P 500 index, according to an FWP 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 5.5% to 6% for that month. The exact monthly contingent payment will be set at pricing.

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 and UBS Financial Services Inc. are the agents.

The notes will price on Jan. 28 and settle on Jan. 31.

The Cusip number is 61761M268.

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