New Issue: Morgan Stanley prices $15.2 million buffered digital notes on S&P 500

By Marisa Wong

Madison, Wis., June 26 – Morgan Stanley priced $15.2 million of 0% buffered digital notes due Sept. 29, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than or equal to negative 10%, the payout at maturity will be the maximum settlement amount of $1,057.70 for each $1,000 principal amount.

Investors will lose 1.1111% for each 1% decline beyond 10%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley
Issue:	Buffered digital notes
Underlying index:	S&P 500
Amount:	$15.2 million
Maturity:	Sept. 29, 2016
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is greater than or equal to negative 10%, maximum settlement amount of $1,057.70 for each $1,000 principal amount; 1.1111% loss for each 1% decline beyond 10%
Index level:	2,108.58
Threshold level:	1,897.722, 90% initial level
Pricing date:	June 24
Settlement date:	July 1
Agent:	Morgan Stanley & Co. LLC
Fees:	1%
Cusip:	61761JZU6

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