New Issue: Morgan Stanley sells $7.7 million market plus notes linked to S&P 500

By Susanna Moon

Chicago, March 15 - Morgan Stanley priced $7.7 million of 0% market plus notes due Sept. 18, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-out event occurs if the index finishes below the 86.2% knock-out level.

If a knock-out event has not occurred, the payout at maturity will be par plus the greater of any index gain and 2%.

Otherwise, the payout will be par plus the index return, with full exposure to losses.

Morgan Stanley & Co. LLC is the agent with J.P. Morgan Securities LLC as dealer.

Issuer:	Morgan Stanley
Issue:	Market plus notes
Underlying index:	S&P 500
Amount:	$7.7 million
Maturity:	Sept. 18, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	If falls by 13.8% or less, par plus any index gain, floor of 2%; otherwise, full exposure to losses
Initial index level:	1,554.52
Knock-out level:	1,340, 86.2% of initial level
Pricing date:	March 13
Settlement date:	March 18
Agent:	Morgan Stanley & Co. LLC
Dealer:	J.P. Morgan Securities LLC
Fees:	1%
Cusip:	61761JEE5

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