New Issue: Morgan Stanley prices $3.19 million trigger PLUS linked to iShares U.S. Real Estate

By Susanna Moon

Chicago, April 2 - Morgan Stanley priced $3.19 million of 0% trigger Performance Leveraged Upside Securities due April 4, 2016 linked to the iShares U.S. Real Estate ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 150% of any fund gain, up to a maximum return of 38.5%.

Investors will receive par if the fund falls up to 15% and will be fully exposed to any losses if the fund finishes below the 85% trigger level.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley
Issue:	Trigger Performance Leveraged Upside Securities
Underlying fund:	iShares U.S. Real Estate ETF
Amount:	$3,193,100
Maturity date:	April 4, 2016
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any fund gain, capped at 38.5%; par if fund falls by up to 15%; otherwise, full exposure to any losses
Initial level:	$67.67
Trigger level:	$57.52, 85% of the initial price
Pricing date:	March 31
Settlement date:	April 3
Agent:	Morgan Stanley & Co. LLC
Fees:	2.25%
Cusip:	61760S670

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