New Issue: Morgan Stanley sells $1.8 million buffered step performance notes tied to S&P 500

By Susanna Moon

Chicago, Oct. 28 - Morgan Stanley priced $1.8 million of 0% buffered step performance securities due Oct. 30, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above the initial index level, the payout at maturity will be par of $10 plus the greater of any gain and the 42% step return.

Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% decline beyond 20%.

Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as dealer.

Issuer:	Morgan Stanley
Issue:	Buffered step performance securities
Underlying index:	S&P 500
Amount:	$1,801,000
Maturity:	Oct. 30, 2015
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index gains, par plus return, floor of 42%; par if index falls by up to 20%; 1% loss per 1% drop beyond 20%
Initial index level:	1,242
Pricing date:	Oct. 26
Settlement date:	Oct. 31
Agent:	Morgan Stanley & Co. LLC with UBS Financial Services Inc. as dealer
Fees:	3%
Cusip:	61760T124

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