New Issue: Morgan Stanley prices $11.54 million non-callable contingent coupon notes on S&P 500

By Toni Weeks

San Diego, May 27 - Morgan Stanley priced $11.54 million of non-callable contingent coupon notes due May 30, 2031 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly. The coupon will be fixed at 7.5% for the first year. After that, the notes will pay interest at a rate of 7.5% per year only if the index closes at or above 1,000 on the observation date for that month. If the index closes below the barrier level, no interest will be paid for that month.

The payout at maturity will be par.

The notes (Cusip: 617482UG7) priced on May 25 and will settle on May 31.

Morgan Stanley & Co. Inc. is the agent.

Issuer:	Morgan Stanley
Issue:	Non-callable contingent coupon notes
Underlying index:	S&P 500
Amount:	$11,541,000
Maturity:	May 30, 2031
Coupon:	7.5% for first year, after that, 7.5% per year for months when index closes at or above 1,000 on observation date for that month, otherwise zero; payable monthly
Price:	Par
Payout at maturity:	Par
Initial level:	1,320.47
Barrier level:	1,000
Pricing date:	May 25
Settlement date:	May 31
Agent:	Morgan Stanley & Co. Inc.
Fees:	3.5%
Cusip:	617482UG7

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