New Issue: Morgan Stanley prices $5.25 million buffered digital notes linked to SPDR S&P Biotech

By Devika Patel

Knoxville, Tenn., March 9 – Morgan Stanley Finance LLC priced $5.25 million of 0% buffered digital notes due Sept. 12, 2018 linked to the SPDR S&P Biotech 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 zero, positive or if the fund declines but finishes above the 85% threshold level, the payout at maturity will be $1,154 per $1,000 of notes.

Investors will lose 1.1765% for every 1% that it declines beyond 15%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Buffered digital notes
Underlying ETF:	SPDR S&P Biotech
Amount:	$5.25 million
Maturity:	Sept. 12, 2018
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If fund return is zero, positive or declines but finishes above the 85% threshold level, $1,154 per $1,000 of notes; 1.1765% loss for every 1% that fund declines beyond 15%
Initial level:	$69.59
Threshold level:	$59.1515, 85% of initial level
Pricing date:	March 7
Settlement date:	March 14
Underwriter:	Morgan Stanley & Co. LLC
Fees:	1.33%
Cusip:	61768CFP7

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