New Issue: Morgan Stanley prices $8.7 million leveraged buffered notes linked to iShares MSCI EM

By Angela McDaniels

Tacoma, Wash., March 8 – Morgan Stanley priced $8.7 million of 0% leveraged buffered notes due March 8, 2018 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF return is positive, the payout at maturity will be par plus 1.5 times the ETF return, subject to a maximum return of 33.825%. If the ETF return is zero or negative but not below negative 10%, the payout will be par. If the ETF return is below negative 10%, investors will lose 1.1111% for every 1% that the ETF declines beyond 10%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley
Issue:	Leveraged buffered notes
Underlying ETF:	iShares MSCI Emerging Markets
Amount:	$8.7 million
Maturity:	March 8, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF return is positive, par plus 1.5 times ETF return, subject to 33.825% maximum return; if ETF return is zero or negative but not below negative 10%, par; if ETF return is below negative 10%, 1.1111% loss for every 1% that ETF declines beyond 10%
Initial share price:	$32.82
Pricing date:	March 4
Settlement date:	March 11
Agent:	Morgan Stanley & Co. LLC
Fees:	2%
Cusip:	61761J2B4

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