Morgan Stanley plans buffered PLUS with 92%-96% cap tied to gold

By Susanna Moon

Chicago, Feb. 22 - Morgan Stanley plans to price 0% buffered Performance Leveraged Upside Securities due March 2017 linked to the price of gold, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any gain in the price of gold, up to a maximum payout of $1,920 to $1,960 per $1,000 principal amount. The exact cap will be set at pricing.

Investors will receive par if the gold price falls by up to 20% and will lose 1% for each 1% drop beyond 20%.

Morgan Stanley & Co. LLC is the agent.

The notes will price in February and settle in March.

The Cusip is 617482M50.

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