New Issue: Morgan Stanley prices $432,000 trigger PLUS tied to S&P 500 index

By Marisa Wong

Madison, Wis., Sept. 28 - Morgan Stanley priced $432,000 of 0% trigger Performance Leveraged Upside Securities due Sept. 29, 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 of $10 plus 150% of any gain in the index.

Investors will receive par if the index falls by up to 50% and will be fully exposed to the decline from the initial level if it falls by more than 50%.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley
Issue:	Trigger Performance Leveraged Upside Securities
Underlying index:	S&P 500
Amount:	$432,000
Maturity date:	Sept. 29, 2015
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index return is positive, par plus 150% of index gain; par if index has fallen by up to 50%; par plus index return with full exposure to losses if index falls beyond 50%
Initial level:	1,162.95
Trigger level:	581.475, 50% of initial level
Pricing date:	Sept. 26
Settlement date:	Sept. 29
Agent:	Morgan Stanley & Co. LLC
Fees:	3%
Cusip:	617482YK4

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