New Issue: Morgan Stanley sells $4.43 million leveraged buffered notes on S&P 500

By Wendy Van Sickle

Columbus, Ohio, May 5 – Morgan Stanley Finance LLC priced $4.43 million of 0% leveraged buffered notes due Nov. 8, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If the index return is positive, the payout at maturity will be par plus 200% of the index return, subject to a maximum settlement amount of $1,104 per $1,000 of notes. Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% that the index declines beyond 10%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Leveraged buffered notes
Underlying index:	S&P 500
Amount:	$4,425,000
Maturity:	Nov. 8, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 200% of index gain, capped at $1,104 per $1,000 of notes; par if index falls by up to 10%; 1.1111% loss for every 1% drop beyond 10%
Initial level:	2,388.13
Buffer level:	2,149.317, 90% of initial level
Pricing date:	May 3
Settlement date:	May 10
Agent:	Morgan Stanley & Co. LLC
Fees:	1.51%
Cusip:	61768CHV2

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