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Published on 5/24/2011 in the Prospect News Structured Products Daily.

New Issue: Morgan Stanley prices $6.03 million fixed-to-floating notes on CPI

By Susanna Moon

Chicago, May 24 - Morgan Stanley priced $6.03 million of fixed-to-floating notes due May 31, 2017 linked to the Consumer Price Index, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 3% for the first year. After that, it will be equal to the year-over-year change in the Consumer Price Index plus 100 basis points, up to a maximum rate of 7%. Interest is payable monthly and cannot be less than zero.

The payout at maturity will be par.

Morgan Stanley & Co. Inc. is the agent.

Issuer:Morgan Stanley
Issue:Fixed-to-floating notes
Underlying index:Consumer Price Index
Amount:$6,025,000
Maturity:May 31, 2017
Coupon:3% for one year; then year-over-year change in CPI plus 100 bps, capped at 7%; payable monthly
Price:Par
Payout at maturity:Par
Pricing date:May 23
Settlement date:May 31
Agent:Morgan Stanley & Co. Inc.
Fees:1.25%
Cusip:61745EQ87

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