Morgan Stanley plans dual directional trigger PLUS on Vanguard ETF

By Marisa Wong

Madison, Wis., Aug. 30 - Morgan Stanley plans to price 0% dual directional trigger Performance Leveraged Upside Securities due September 2015 linked to the Vanguard FTSE Europe exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

If the fund finishes above the initial price, the payout at maturity will be par of $10 plus 150% of the gain, subject to a maximum return of 26.5% to 28.5%.

If the fund return is zero or negative but the fund finishes at or above the 85% trigger level, the payout will be par plus the absolute value of the return.

If the fund falls by more than 15%, investors will be fully exposed to the decline from the initial price.

Morgan Stanley & Co. LLC is the agent.

The notes (Cusip: 61762P716) are slated to price in August and settle in September.

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