Morgan Stanley to price bear market buffered notes linked to copper

By Angela McDaniels

Tacoma, Wash., Aug. 12 – Morgan Stanley plans to price 0% bear market buffered securities due Feb. 17, 2017 linked to the price of copper, according to a 424B2 filing with the Securities and Exchange Commission.

If the final copper price is less than the initial copper price, the payout at maturity will be par plus 1% for every 1% that the price declines, subject to a maximum return of 20%.

If the final copper price is greater than or equal to the initial copper price but less than or equal to 115% of the initial copper price, the payout will be par.

If the final copper price is more than 115% of the initial copper price, the payout will be par minus 1.1765% for every 1% that the copper return exceeds 15%.

Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.

The notes will price Aug. 14 and settle Aug. 19.

The Cusip number is 61762GEP5.

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