Morgan Stanley plans one-year phoenix autocallables linked to crude oil

By Susanna Moon

Chicago, April 24 - Morgan Stanley plans to price phoenix autocallable securities due May 13, 2015 linked to WTI light sweet crude oil, according to a 424B2 filing with the Securities and Exchange Commission.

If the price of crude closes at or above the coupon barrier level, 90% of the initial price, on a quarterly review date, the issuer will pay a contingent coupon for that quarter at the rate of 10.2% per year.

If the price of crude closes at or above the initial price on any quarterly review date, the notes will be called at par plus the contingent coupon.

If the notes are not called and the price of crude finishes at or above the 80% trigger level, the payout at maturity will be par plus the contingent coupon.

Otherwise, investors will be exposed to any losses.

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

The notes will price on April 25.

The Cusip number is 61762GBL7.

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