Morgan Stanley plans callable contingent income notes tied to S&P 500

New York, July 7 – Morgan Stanley plans to price callable contingent income securities due July 24, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 7% if the S&P 500 closes at or above the coupon barrier level, 75% of its initial level, on the observation date for that quarter.

Morgan Stanley has the right to call the notes on any annual redemption date at par plus any contingent coupon.

The payout at maturity will be par plus a possible contingent coupon if the index closes above the 60% downside threshold level.

If the S&P 500 ends below the downside threshold investors will be fully exposed to any decline.

Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management will be the distributor.

The notes will price on July 21 and settle on July 24.

The Cusip number is 61761JC80.

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