New Issue: Morgan Stanley prices $1.31 million buffered jump notes tied to S&P 500

By Marisa Wong

Madison, Wis., March 28 - Morgan Stanley priced $1.31 million of 0% buffered jump securities due March 28, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than the initial index level, the payout at maturity will be par of $1,000 plus the greater of the index return and the upside payment of $1,000. Investors will receive par if the index declines by 20% or less and will lose 1% for every 1% that it declines beyond 20%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley
Issue:	Buffered jump securities
Underlying index:	S&P 500
Amount:	$1.31 million
Maturity:	March 28, 2024
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If index finishes above initial level, par plus greater of index return and 100%; par if index falls by 20% or less; 1% loss for every 1% that index declines beyond 20%
Initial index level:	1,852.56
Buffer level:	1,482.048, 80% of initial level
Pricing date:	March 26
Settlement date:	March 31
Agent:	Morgan Stanley & Co. LLC
Fees:	3.5%
Cusip:	61761JPL7

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