New Issue: Morgan Stanley prices $5.03 million buffered digital notes tied to Russell 2000

By Marisa Wong

Morgantown, W.Va., March 17 – Morgan Stanley priced $5.03 million of 0% buffered digital Russell 2000 index-linked notes due April 5, 2018, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is at least negative 15%, the payout will be the maximum settlement amount of $1,155 for each $1,000 principal amount.

If the index return is less than negative 15%, investors will lose 1.1765% for each 1% decline beyond 15%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley
Issue:	Buffered digital notes
Underlying index:	S&P 500
Amount:	$5,025,000
Maturity:	April 5, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	If final index level is at least 85% of initial level, $1,155 for each $1,000 principal; 1.1765% loss for each 1% decline beyond 15%
Initial index level:	1,066.666
Threshold level:	906.6661, 85% of initial level
Pricing date:	March 15
Settlement date:	March 22
Underwriter:	Morgan Stanley & Co. LLC
Fees:	1.47%
Cusip:	61761J2L2

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