New Issue: Morgan Stanley prices $3.64 million trigger securities on commodities

By Jennifer Chiou

New York, Dec. 28 - Morgan Stanley priced $3.64 million of 0% trigger securities due Dec. 28, 2012 linked to five equally weighted commodities, according to an FWP with the Securities and Exchange Commission.

The underlying commodities are copper, corn, palladium, silver and soybeans.

The payout at maturity will be par plus any basket gain, up to a maximum payment of $1,580 per $1,000 principal amount.

If the basket remains above the trigger level of 70% during the life of the notes, investors will receive par. Otherwise, investors will be fully exposed to any losses.

Morgan Stanley & Co. Inc. is the agent.

Issuer:	Morgan Stanley
Issue:	Trigger securities
Underlying basket:	Copper, corn, palladium, silver and soybeans, equally weighted
Amount:	$3.64 million
Maturity:	Dec. 28, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any basket gain, capped at 58%; par if basket falls but remains above trigger level; otherwise, full exposure to basket decline
Initial levels:	$9,270 for copper, 614¢ for corn, $752 for palladium, 2,918¢ for silver and 1,360¢ for soybeans
Pricing date:	Dec. 23
Settlement date:	Dec. 29
Agent:	Morgan Stanley & Co. Inc.
Fees:	2.25%
Cusip:	617482QK3

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