New Issue: Morgan Stanley prices $3.06 million contingent income notes on S&P 500

By Marisa Wong

Madison, Wis., June 28 - Morgan Stanley priced $3.06 million of contingent income securities due June 29, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent monthly payment of 8% per year, or $6.6667 per $1,000 principal amount of notes, if the index closes at or above 575 on the determination date for that month. Otherwise, no coupon will be paid that month.

If the final index level is greater than or equal to 575, the payout at maturity will be par plus the contingent monthly payment. If the final index level is less than 575, investors will be fully exposed to the decline of the index from the initial level.

Morgan Stanley & Co. LLC will be the agent.

Issuer:	Morgan Stanley
Issue:	Contingent income securities
Underlying index:	S&P 500
Amount:	$3,056,000
Maturity:	June 29, 2018
Coupon:	8% per year, or $6.6667 per $1,000 principal amount of notes, if index closes at or above 575 on determination date for that month; otherwise, no coupon will be paid that month
Price:	Par
Payout at maturity:	If final index level is greater than or equal to 575, par plus contingent monthly payment; otherwise, full exposure to decline of index from initial level
Initial index level:	1,319.99
Pricing date:	June 26
Settlement date:	June 29
Agent:	Morgan Stanley & Co. LLC
Fees:	3.5%
Cusip:	617482S39

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