Morgan Stanley to price six-month Libor S&P 500 range accrual notes

By Susanna Moon

Chicago, Jan. 27 - Morgan Stanley plans to price floating-rate six-month Libor and S&P 500 index range accrual notes due Feb. 10, 2019, according to an FWP filing with the Securities and Exchange Commission.

Interest will accrue at 12% per year for each day that six-month Libor is 7% or less and the S&P 500 index is at least 650. Interest will be payable quarterly.

The notes will be callable at par on any interest payment date beginning Feb. 10, 2012.

If the notes are not called, payout at maturity will be par.

The notes will price and settle in February.

Morgan Stanley & Co. Inc. is the agent.

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