New Issue: Morgan Stanley prices $3.03 million buffered participation notes linked to oil & gas ETF

By Angela McDaniels

Tacoma, Wash., July 16 – Morgan Stanley priced $3.03 million of 0% buffered participation securities due Sept. 19, 2016 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF return is positive, the payout at maturity will be par plus the lesser of the ETF return and 14%. Investors will receive par if the ETF return is negative but not less than negative 15% and will lose 1.1765% for every 1% that the ETF declines beyond 15%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley
Issue:	Buffered participation securities
Underlying ETF:	SPDR S&P Oil & Gas Exploration & Production ETF
Amount:	$3,025,000
Maturity:	Sept. 19, 2016
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF return is positive, par plus ETF return, subject to 14% maximum return; par if ETF return is negative but not less than negative 15%; 1.1765% loss for every 1% that ETF declines beyond 15%
Initial share price:	$45.22
Pricing date:	July 14
Settlement date:	July 17
Agent:	Morgan Stanley & Co. LLC
Fees:	2%
Cusip:	61761JC56

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