New Issue: Morgan Stanley prices $2.78 million Lasers linked to S&P 500, two iShares ETFs

By Angela McDaniels

Tacoma, Wash., July 18 - Morgan Stanley priced $2.78 million of 0% Equity Leading Stockmarket Return Securities due July 22, 2013 linked to an equity basket, according to an FWP filing with the Securities and Exchange Commission.

The basket includes equal weights of the S&P 500 index, the iShares MSCI Emerging Markets index fund and the iShares MSCI EAFE index fund.

If the basket's closing level remains above the downside threshold value - 75% of the initial level - throughout the life of the notes, the payout at maturity will be par of $10.00 plus the greater of the basket return and 12%. Otherwise, the payout will be par plus the basket return, which could be positive or negative.

In each case, the payout will be capped at $12.175 per note.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley
Issue:	Equity Leading Stockmarket Return Securities
Underlying basket:	S&P 500 index, iShares MSCI Emerging Markets index fund and iShares MSCI EAFE index fund, equally weighted
Amount:	$2,775,000
Maturity:	July 22, 2013
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	If basket's closing level remains above 75% of initial level throughout life of notes, par plus greater of basket return and 12%; otherwise, par plus the basket return, whether positive or negative; payout capped at $12.175 per note in each case
Initial levels:	1,316.14 for S&P 500; $46.66 for iShares MSCI Emerging Markets; $58.18 for iShares MSCI EAFE
Pricing date:	July 15
Settlement date:	July 22
Agent:	Morgan Stanley & Co. LLC
Fees:	2.25%
Cusip:	61760E143

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