Morgan Stanley plans trigger contingent coupon notes tied to Russell

By Jennifer Chiou

New York, Dec. 5 - Morgan Stanley plans to price trigger contingent coupon optimization securities due Dec. 31, 2020 linked to the Russell 2000 index, according to an FWP with the Securities and Exchange Commission.

If the index closes at or above the 55% barrier level on a monthly observation date, the notes will pay a contingent coupon at an annualized rate of 6.5% to 7% for that month. The exact monthly contingent coupon will be set at pricing.

The payout at maturity will be par plus the contingent coupon unless the final index level is less than the barrier level, in which case investors will be fully exposed to the decline in the index.

The notes (Cusip: 61761H889) are expected to price on Dec. 26 and settle on Dec. 31.

Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as dealer.

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