New Issue: Morgan Stanley prices $3.43 million leveraged buffered notes linked to SPDR S&P 500

By Angela McDaniels

Tacoma, Wash., Aug. 5 – Morgan Stanley priced $3.43 million of 0% securities with leveraged upside participation to a cap and fixed percentage buffered downside due Feb. 5, 2019 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.

If the trust return is positive, the payout at maturity will be par plus 150% of the gain, subject to a maximum return of 36%. Investors will receive par if the trust decreases by up to 10% and will lose 1% for every 1% that the trust declines beyond 10%.

Morgan Stanley & Co. LLC and Wells Fargo Securities LLC are the agents.

Issuer:	Morgan Stanley
Issue:	Securities with leveraged upside participation to a cap and fixed percentage buffered downside
Underlying:	SPDR S&P 500 ETF Trust
Amount:	$3,425,000
Maturity:	Feb. 5, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	If trust return is positive, par plus 150% of gain, subject to 36% maximum return; par if trust decreases by 10% or less; 1% loss for every 1% that trust declines beyond 10%
Initial price:	$210.50
Threshold price:	$189.45, 90% of initial share price
Pricing date:	July 31
Settlement date:	Aug. 5
Agents:	Morgan Stanley & Co. LLC and Wells Fargo Securities LLC
Fees:	2.75%
Cusip:	61761JC98

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