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Published on 6/22/2012 in the Prospect News Structured Products Daily.

New Issue: Morgan Stanley prices $1 million fixed-to-floating notes linked to CPI

By Toni Weeks

San Diego, June 22 - Morgan Stanley priced $1 million of fixed-to-floating notes due July 1, 2022 linked to the Consumer Price Index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 5.65% for the first month. After that, it will be equal to the year-over-year change in the Consumer Price Index plus 300 basis points, with a maximum rate of 10% and a minimum rate of zero. Interest is payable monthly.

The payout at maturity will be par.

Morgan Stanley & Co. LLC is the agent, and Morgan Stanley Smith Barney LLC will handle distribution.

Issuer:Morgan Stanley
Issue:Fixed-to-floating notes
Underlying index:Consumer Price Index
Amount:$1 million
Maturity:July 1, 2022
Coupon:5.65% for first month; beginning Aug. 1, year-over-year change in index plus 300 bps, floor of zero, cap of 10%; payable monthly
Price:Variable
Payout at maturity:Par
Pricing dates:June 20
Settlement date:June 29
Agent:Morgan Stanley & Co. LLC, with Morgan Stanley Smith Barney LLC as distributor
Fees:1.75%
Cusip:61760QBQ6

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