Morgan Stanley to price dual directional trigger notes linked to Apple

By Angela McDaniels

Tacoma, Wash., April 4 - Morgan Stanley plans to price 0% dual directional trigger securities due April 2014 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.

If the final share price is greater than the initial share price, the payout at maturity will be par of $10.00 plus the stock return, subject to a maximum payment of $14.70 to $15.20 per note. The exact maximum payment will be set at pricing.

If the final share price is less than or equal to the initial share price but is greater than or equal to the trigger level, the payout will be par plus the absolute value of the stock return. The trigger level will be 75% of the initial share price.

If the final share price is less than the trigger price, investors will be fully exposed to the decline from the initial share price.

The notes (Cusip: 61760T678) are expected to price and settle in April.

Morgan Stanley & Co. LLC is the agent.

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