New Issue: Morgan Stanley prices $8.4 million buffered digital notes on S&P 500

By Wendy Van Sickle

Columbus, Ohio, Jan. 7 – Morgan Stanley priced $8.4 million of 0% buffered digital S&P 500 index-linked notes due Dec. 6, 2017, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is at least negative 15%, the payout will be the maximum settlement amount of $1,112.50 for each $1,000 principal amount.

If the index return is less than negative 15%, investors will lose 1.1765% for each 1% decline beyond 15%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley
Issue:	Buffered digital notes
Underlying index:	S&P 500
Amount:	$8.75 million
Maturity:	Dec. 6, 2017
Coupon:	0%
Price:	Par
Payout at maturity:	If final index level is at least 85% of initial level, $1,112.50 for each $1,000 principal; 1.1765% loss for each 1% decline beyond 15%.
Initial index level:	2,012.66
Pricing date:	Jan. 4
Settlement date:	Jan. 11
Underwriter:	Morgan Stanley & Co. LLC
Fees:	1.4%
Cusip:	61761JT25

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