New Issue: Morgan Stanley prices $8.52 million buffered digital notes linked to oil & gas ETF

By Marisa Wong

Morgantown, W.Va., March 29 – Morgan Stanley Finance LLC priced $8.52 million of 0% buffered digital notes due May 24, 2018 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filed with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If the fund return is at least negative 10%, the payout at maturity will be $1,149 per $1,000 of notes.

Investors will lose 1.1111% for every 1% fund decline beyond 10%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered digital notes
Underlying ETF:	SPDR S&P Oil & Gas Exploration & Production ETF
Amount:	$8,524,000
Maturity:	May 24, 2018
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If the fund return is at least negative 10%, $1,149 per $1,000 of notes; 1.1111% loss for every 1% fund decline beyond 10%
Initial level:	$36.4913
Threshold level:	$32.84217, 90% of initial level
Pricing date:	March 20
Settlement date:	March 27
Underwriter:	Morgan Stanley & Co. LLC
Fees:	0.95%
Cusip:	61768CGJ0

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