Morgan Stanley plans callable contingent income notes on Russell, S&P

By Sarah Lizee

Olympia, Wash., Dec. 18 – Morgan Stanley Finance LLC plans to price callable contingent income securities due Dec. 30, 2021 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon of at least 6.25% per annum if each index closes at or above its 60% coupon barrier on the observation date for that period.

The notes are callable at par on any quarterly redemption date beginning on Jan. 3, 2020.

The payout at maturity will be par unless either index finishes below its 60% trigger level, in which case investors will lose 1% for each 1% decline of the worst performing index.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

The notes will price on Dec. 26 and settle on Dec. 31.

The Cusip number is 61768DUT0.

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