New Issue: Morgan Stanley prices $3.89 million buffered return enhanced notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Jan. 26 – Morgan Stanley priced $3.89 million of 0% buffered return enhanced notes due Feb. 15, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 1.5 times the index return, up to a maximum return of 12%. Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% that the index declines beyond 10%.

Morgan Stanley & Co. LLC is the agent. J.P. Morgan Securities LLC is acting as dealer.

Issuer:	Morgan Stanley
Issue:	Buffered return enhanced notes
Underlying index:	S&P 500
Amount:	$3.89 million
Maturity:	Feb. 15, 2017
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.5 times any index gain, capped at 12%; par if index declines by 10% or less; 1.1111% loss for every 1% that index declines beyond 10%
Initial index level:	1,906.90
Final index level:	Average of index’s closing levels on five trading days ending Feb. 10, 2017
Pricing date:	Jan. 22
Settlement date:	Jan. 27
Agent:	Morgan Stanley & Co. LLC
Dealer:	J.P. Morgan Securities LLC
Fees:	1%
Cusip:	61761JV22

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