Morgan Stanley plans contingent buffer notes on SPDR S&P Bank ETF

By Wendy Van Sickle

Columbus, Ohio, Nov. 5 – Morgan Stanley plans to price 0% contingent buffer equity notes due Nov. 23, 2016 linked to the SPDR S&P Bank exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

A knock-out event will occur if the final share price below the 85% knock-out level.

If a knock-out event has not occurred, the payout at maturity will be par of $1,000 plus the greater of the contingent minimum return of 0% and any fund gain, up to a maximum payment of $1,129.

If a knock-out event has occurred, the payout will be par plus the fund return, with full exposure to any losses.

Morgan Stanley & Co. LLC is the agent with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.

The notes will price on Nov. 6 and settle on Nov. 12.

The Cusip number is 61761JQ36.

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