New Issue: Morgan Stanley prices $10.64 million leveraged buffered notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Dec. 23 – Morgan Stanley priced $10.64 million of 0% leveraged buffered notes due June 22, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 1.4 times the index return, subject to a maximum return of 19.18%. If the index return is zero or negative but not below negative 12.5%, the payout will be par. If the index return is below negative 12.5%, investors will lose 1.1429% for every 1% that the index declines beyond 12.5%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley
Issue:	Leveraged buffered notes
Underlying index:	S&P 500
Amount:	$10,641,000
Maturity:	June 22, 2017
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 1.4 times index return, subject to 19.18% maximum return; if index return is zero or negative but not below negative 12.5%, par; if index return is below negative 12.5%, 1.1429% loss for every 1% that index declines beyond 12.5%
Initial index level:	2,005.55
Pricing date:	Dec. 18
Settlement date:	Dec. 28
Agent:	Morgan Stanley & Co. LLC
Fees:	None
Cusip:	61761JS67

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