Morgan Stanley plans to price knock-out notes linked to S&P 500

By Jennifer Chiou

New York, Aug. 10 - Morgan Stanley plans to price 0% knock-out notes due Aug. 29, 2012 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.

If the index falls by more than 20% from its initial level during the life of the notes, the payout at maturity will be par plus the index return, which could be positive or negative. Otherwise, the payout will be par plus the index return, subject to a minimum return of at least 8.75%.

The exact terms will be set at pricing.

The notes (Cusip: 617482XD1) are to price on Aug. 12 and settle on Aug. 19.

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

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