New Issue: Morgan Stanley prices $6 million buffered return enhanced notes on S&P

By Susanna Moon

Chicago, March 1 – Morgan Stanley priced $6 million of 0% capped buffered return enhanced notes due March 1, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.05 times any index gain, up to a maximum return of 22.05%.

Investors will receive par if the index falls by up to 20% and will lose 1.25% for each 1% decline beyond 20%.

Morgan Stanley & Co. LLC is the agent, with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.

Issuer:	Morgan Stanley
Issue:	Buffered return enhanced notes
Underlying index:	S&P 500
Amount:	$6 million
Maturity:	March 1, 2018
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	Par plus 1.05 times any index gain, capped at 22.05%; par if index declines by 20% or less; 1.25% loss per 1% decline beyond 20%
Initial level:	1,951.70
Pricing date:	Feb. 25
Settlement date:	March 1
Agents:	Morgan Stanley & Co. LLC, with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
Fees:	1.5%
Cusip:	61761J2C2

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