New Issue: Morgan Stanley prices $5 million leveraged buffered notes linked to oil & gas ETF

By Marisa Wong

Morgantown, W.Va., Feb. 5 – Morgan Stanley priced $5 million of 0% leveraged buffered notes due Feb. 7, 2018 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any fund gain, up to a maximum settlement amount of $1,572.80 per $1,000 principal amount of notes.

Investors will receive par if the index falls by 10% or less and will lose 1.1111% for every 1% decline beyond 10%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley
Issue:	Leveraged buffered notes
Underlying ETF:	SPDR S&P Oil & Gas Exploration & Production ETF
Amount:	$4,999,000
Maturity:	Feb. 7, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of any ETF gain, up to 57.28% maximum return; par if ETF declines by 10% or less; 1% loss for every 1% that ETF declines beyond 10%
Initial share price:	$26.36
Buffer level:	$23.724, 90% of initial share price
Pricing date:	Feb. 2
Settlement date:	Feb. 9
Agent:	Morgan Stanley & Co. LLC
Fees:	1.73%
Cusip:	61761JV63

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