New Issue: Morgan Stanley prices $8.07 million buffered digital notes linked to biotech ETF

By Marisa Wong

Morgantown, W.Va., April 7 – Morgan Stanley Finance LLC priced $8.07 million of 0% buffered digital notes due Oct. 11, 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 at least negative 15%, the payout at maturity will be $1,150 per $1,000 of notes.

Investors will lose 1.1765% for every 1% fund decline 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 ETF
Amount:	$8,068,000
Maturity:	Oct. 11, 2018
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If the fund return is at least negative 15%, $1,150 per $1,000 of notes; 1.1765% loss for every 1% fund decline beyond 15%
Initial level:	$66.93
Threshold level:	$56.8905, 85% of initial level
Pricing date:	April 5
Settlement date:	April 12
Underwriter:	Morgan Stanley & Co. LLC
Fees:	1.5%
Cusip:	61768CGY7

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