New Issue: Morgan Stanley prices $682,000 contingent coupon buffered notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., March 29 - Morgan Stanley priced $682,000 of buffered securities with contingent coupon due March 30, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 8.25% per year, payable monthly. Interest will only be paid if the index closes at or above the index reference level, 80% of the initial level, on the observation date for that month. Otherwise, no interest will be paid that month.

If the final index level is greater than or equal to the index reference level, the payout at maturity will be par. Investors will lose 1% for every 1% that the final index level declines below the index reference level.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley
Issue:	Buffered securities with contingent coupon
Underlying index:	S&P 500
Amount:	$682,000
Maturity:	March 30, 2017
Coupon:	8.25%, payable for each month that index closes at or above the index reference level on the observation date for that month
Price:	Par
Payout at maturity:	If the final index level is greater than or equal to the index reference level, par; otherwise, 1% loss for every 1% that the final index level declines below the index reference level
Initial index level:	1,412.52
Index reference level:	1,130.016, 80% of initial level
Pricing date:	March 27
Settlement date:	March 30
Agent:	Morgan Stanley & Co. LLC
Fees:	3%
Cusip:	617482G99

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