New York, Dec. 8 – Morgan Stanley priced $5.16 million of 0% autocallable Performance Leveraged Upside Securities due Dec. 5, 2017 based on the Financial Select Sector SPDR exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 150% of any fund gain, up to a maximum return of 28%.
Investors will be exposed to any losses.
The securities will be called at 110% of par if the fund closes above its call threshold level of 110% of its initial level on the call observation date of May 31, 2016.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
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| Issue: | Autocallable Performance Leveraged Upside Securities
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| Underlying fund: | Financial Select SPDR ETF
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| Amount: | $5,156,900
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| Maturity: | Dec. 5, 2017
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 150% of any fund gain, return capped at 28%; full exposure to any losses
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| Call: | At 110% of par if fund closes above call threshold level of 110% of initial level on call observation date of May 31, 2016
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| Initial price: | $24.56
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| Call threshold level: | $27.016, 110% of initial level
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| Pricing date: | Nov. 30
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| Settlement date: | Dec. 3
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.25%
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| Cusip: | 61765U225
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