Morgan Stanley to sell capital-protected notes linked to crude oil

By Susanna Moon

Chicago, July 25 - Morgan Stanley Morgan Stanley plans to price an issue of commodity-linked capital-protected notes due Feb. 28, 2011 based on the price of Brent crude oil, according to an FWP filing with the Securities and Exchange Commission.

For each $1,000 principal amount of notes, the payout at maturity will be par times the percentage change in the oil price times a participation rate of 120% to 130%, with the exact amount to be determined at pricing.

The final oil price use in the calculation will equal the average of the oil price on each trading day from January 18, 2011 through February 18, 2011.

The notes are expected to price and settle in August.

Morgan Stanley & Co. Inc. will be the agent.

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