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Published on 2/23/2009 in the Prospect News Structured Products Daily.

Morgan Stanley to sell buffered PLUS linked to S&P 500

By Susanna Moon

Chicago, Feb. 23 - Morgan Stanley plans to price 0% buffered Performance Leveraged Upside Securities due March 20, 2011 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

Payout at maturity will be par of $10.00 plus double any gain in the index, up to a maximum payout of $14.60 to $15.00 per note.

Investors will receive par if the index falls by up to 10% and will be exposed to losses beyond 10%.

The notes are expected to price and settle in March.

Morgan Stanley & Co. Inc. is the agent.


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