New Issue: Morgan Stanley prices $5.87 million 0% PLUS on S&P MidCap, Russell 2000

By Susanna Moon

Chicago, April 4 - Morgan Stanley priced $6.3 million of 0% Performance Leveraged Upside Securities due Jan. 5, 2012 linked to a basket containing equal weights of the S&P MidCap 400 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 1.5 times any gain in the basket, up to a maximum return of $11.215 per note.

Investors will be exposed to any losses.

Morgan Stanley & Co. Inc. is the agent.

Issuer:	Morgan Stanley
Issue:	Performance Leveraged Upside Securities
Underlying indexes:	S&P MidCap 400 and the Russell 2000, equally weighted
Amount:	$5.87 million
Maturity:	Jan. 5, 2012
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 150% of any basket gain, capped at 12.15%; exposure to losses
Initial index levels:	989.05 for midcap, 843.55 for Russell
Pricing date:	March 31
Settlement date:	April 5
Agent:	Morgan Stanley & Co. Inc.
Fees:	1.875%
Cusip:	61760E887

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