New Issue: Morgan Stanley prices $556,000 quarterly capped notes tied to S&P 500

By Toni Weeks

San Diego, March 29 - Morgan Stanley priced $556,000 of 0% quarterly capped market-linked notes due Sept. 30, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus the indexed interest amount, subject to a minimum return of 3.5% and a maximum return of 77%.

The indexed interest amount is the sum of the quarterly returns on the index. Each quarterly percentage change is subject to a cap of 5.5%, but there is no floor if the change for a quarter is negative.

Morgan Stanley & Co. LLC

Issuer:	Morgan Stanley
Issue:	Quarterly capped market-linked notes
Underlying index:	S&P 500
Amount:	$556,000
Maturity:	Sept. 30, 2015
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus indexed interest amount, which is sum of quarterly returns of index; quarterly returns have cap of 5.5% and no floor; payout at maturity is subject to minimum return of 3.5% and maximum return of 77%
Initial level:	1,412.52 for first quarter; thereafter, each quarter's initial level is the final level for immediately preceding quarter
Pricing date:	March 27
Settlement date:	March 30
Agent:	Morgan Stanley & Co. LLC
Fees:	2%
Cusip:	617482G81

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