New Issue: Morgan Stanley prices $4.45 million buffered return optimization notes on S&P 500

By Marisa Wong

Madison, Wis., March 27 - Morgan Stanley priced $4.45 million of 0% buffered return optimization securities due March 29, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.5 times any gain in the index, up to a maximum return of 50%.

Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% decline beyond the 15% buffer.

Morgan Stanley & Co. LLC and UBS Financial Services Inc. are the agents.

Issuer:	Morgan Stanley
Issue:	Buffered return optimization securities
Underlying index:	S&P 500
Amount:	$4,452,800
Maturity:	March 29, 2018
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 150% of any index gain, capped at 50%; par for losses up to 15%; 1% loss for every 1% drop beyond 15%
Initial level:	1,551.69
Pricing date:	March 25
Settlement date:	March 28
Agents:	Morgan Stanley & Co. LLC and UBS Financial Services Inc.
Fees:	3.5%
Cusip:	61761M664

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