New Issue: Morgan Stanley prices $1.57 million buffered return optimization notes on S&P MidCap

By Susanna Moon

Chicago, May 27 - Morgan Stanley priced $1.57 million of buffered return optimization securities due May 31, 2013 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.

UBS Financial Services Inc. is the dealer, and Morgan Stanley & Co. Inc. is the agent.

The payout at maturity will be par of $10 plus 1.25 times any gain in the index, up to a maximum return of 21.9%.

Investors will receive par if the index falls by up to 10% and will be exposed to any losses beyond 10%.

Issuer:	Morgan Stanley
Issue:	Buffered return optimization securities
Underlying index:	S&P MidCap 400
Amount:	$1,567,000
Maturity:	May 31, 2013
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 125% of any index gain, capped at 21.9%; exposure to losses beyond 10%
Initial level:	975.66
Pricing date:	May 25
Settlement date:	May 31
Underwriters:	UBS Financial Services Inc. (dealer), Morgan Stanley & Co. Inc. (agent)
Fees:	2%
Cusip:	61760E689

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