Morgan Stanley plans trigger contingent coupon notes on Russell 2000

By Marisa Wong

Madison, Wis., March 7 - Morgan Stanley plans to price trigger contingent coupon optimization securities due March 31, 2021 linked to the Russell 2000 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 6% to 6.5% 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 is the agent, and UBS Financial Services Inc. is the dealer.

The notes will price on March 25 and settle on March 28.

The Cusip number is 61761M656.

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