New Issue: Morgan Stanley prices $705,000 contingent income buffered securities on Russell

By Marisa Wong

Madison, Wis., March 27 - Morgan Stanley priced $705,000 of contingent income buffered securities due March 28, 2028 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annualized rate of 7.5% if the index closes at or above the 70% coupon barrier level on the determination date for that month. Otherwise, no coupon will be paid.

If the index finishes at or above the 50% buffer level, the payout at maturity will be par and, if final level is at or above barrier level, the contingent monthly payment.

Otherwise, investors will be fully exposed to any losses.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley
Issue:	Contingent income buffered securities
Underlying index:	Russell 2000
Amount:	$705,000
Maturity:	March 28, 2018
Coupon:	7.5% per year if index closes at or above coupon barrier level on monthly determination date; otherwise, no coupon will be paid that month
Price:	Par of $1,000
Payout at maturity:	If index finishes at or above 50% buffer level, par and, if final level is at or above barrier level, contingent monthly payment; otherwise, full exposure to any losses
Initial level:	945.85
Barrier level:	662.095, 70% of initial level
Pricing date:	March 25
Settlement date:	March 28
Agents:	Morgan Stanley & Co. LLC
Fees:	3.5%
Cusip:	61761JDV8

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