New Issue: Morgan Stanley prices $1.96 million knock-out notes linked to Brent crude oil

By Toni Weeks

San Diego, Aug. 24 - Morgan Stanley priced $1.96 million 0% knock-out notes due Dec. 23, 2011 linked to the price of Brent blend crude oil, according to a 424B2 filing with the Securities and Exchange Commission.

If the final price of oil is at least 80% of the initial price, the payout at maturity will be par plus 5.6%. Otherwise, investors will lose a percentage of par equal to the percentage decline of oil.

Morgan Stanley & Co. LLC is the agent with J.P. Morgan Securities LLC as dealer.

Issuer:	Morgan Stanley
Issue:	Knock-out notes
Underlying commodity:	Brent blend crude oil
Amount:	$1.96 million
Maturity date:	Dec. 23, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	If final oil price is at least 80% of initial price, par plus 5.6%; otherwise, full exposure to losses
Initial price:	$108.62
Knock-out buffer:	20% of initial price
Pricing date:	Aug. 19
Settlement date:	Aug. 26
Agents:	Morgan Stanley & Co. LLC (agent) and J.P. Morgan Securities LLC (dealer)
Fees:	0.3%
Cusip:	617482VT8

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