Morgan Stanley plans contingent income securities tied to Russell 2000

By Jennifer Chiou

New York, March 6 - Morgan Stanley plans to price contingent income securities due March 15, 2028 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annualized rate of 7% if the index closes at or above the 50% barrier level on the determination date for that month. Otherwise, no coupon will be paid.

If the index finishes at or above the barrier level, the payout at maturity will be par plus the contingent monthly payment.

Otherwise, investors will be fully exposed to any losses.

The notes (Cusip: 61761JDN6) are expected to price on March 12 and settle on March 15.

Morgan Stanley & Co. LLC will be the agent, and Morgan Stanley Smith Barney LLC will be the dealer.

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