New Issue: Morgan Stanley prices $2.4 million protected absolute return barrier notes linked to crude oil

By Susanna Moon

Chicago, Aug. 25 - Morgan Stanley priced $2.4 million of zero-coupon principal-protected absolute return barrier notes due Aug. 31, 2011 linked to West Texas Intermediate light sweet crude oil, according to an FWP filing with the Securities and Exchange Commission.

If the price of oil stays within a range during the life of the notes, the payout at maturity will be par of $10 plus the absolute value of the return, up to a maximum return of 74.535%. The range will be $85 to $200.

Otherwise, the payout will be par.

Morgan Stanley & Co. Inc. is the agent.

Issuer:	Morgan Stanley
Issue:	Principal-protected absolute return barrier notes
Underlying commodity:	West Texas Intermediate light sweet crude oil
Amount:	$2,398,000
Maturity:	Aug. 31, 2011
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If oil price stays within its range, par plus absolute value of return, capped at 74.535%; otherwise, par
Initial price:	$114.59
Range:	$85 to $200
Pricing date:	Aug. 22
Settlement date:	Aug. 29
Agent:	Morgan Stanley & Co. Inc.
Fees:	1.75%

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