New Issue: Morgan Stanley prices $14.26 million market plus notes tied to S&P 500

By Jennifer Chiou

New York, July 3 - Morgan Stanley priced $14,257,000 of 0% market plus notes due Dec. 31, 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 ever closes below the 74.5% knock-out level during the life of the notes.

If a knock-out event has not occurred, the payout at maturity will be par plus the greater of any index gain and 0%.

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:	$14,257,000
Maturity:	Dec. 31, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	If index never falls by more than 25.5%, par plus any index gain, floor of 0%; otherwise, full exposure to losses
Initial index level:	1,606.28
Knock-out level:	1,196.679, 74.5% of initial level
Pricing date:	June 28
Settlement date:	July 3
Agent:	Morgan Stanley & Co. LLC
Dealer:	J.P. Morgan Securities LLC
Fees:	1.25%
Cusip:	61761JJJ9

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