New Issue: Morgan Stanley prices $4.12 million PLUS linked to S&P 500 index

By Toni Weeks

San Diego, May 25 - Morgan Stanley priced $4.12 million of 0% Performance Leveraged Upside Securities due June 26, 2012 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 triple any gain in the index, up to a maximum payment of $11.275 per $10.00 principal amount.

Investors will be fully exposed to any losses.

Morgan Stanley & Co. Inc. is the agent.

Issuer:	Morgan Stanley
Issue:	Performance Leveraged Upside Securities
Underlying index:	S&P 500
Amount:	$4,120,870
Maturity date:	June 26, 2012
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	Par plus triple any gain in index, up to maximum of $11.275 per $10.00 note; full exposure to declines in index
Initial index level:	1,317.37
Pricing date:	May 23
Settlement date:	May 26
Agent:	Morgan Stanley & Co. Inc.
Fees:	2%
Cusip:	61760E721

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