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Published on 5/20/2014 in the Prospect News Structured Products Daily.

New Issue: Morgan Stanley prices $4.39 million contingent income auto-callable securities linked to lululemon athletica

New York, May 20 - Morgan Stanley priced $4,394,700 of contingent income auto-callable securities due May 21, 2015 linked to lululemon athletica inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

If lululemon athletica stock closes at or above the downside threshold level of $33.863 on a quarterly determination date, the notes will pay a contingent payment of 14% for that quarter.

If lululemon athletica stock closes at or above its initial price on any of the quarterly determination dates, the notes will be redeemed at par plus the contingent payment.

If the lululemon athletica stock finishes at or above the downside threshold level, the payout at maturity will be par plus the contingent quarterly payment.

Otherwise, investors will be fully exposed to any losses.

The agent is Morgan Stanley & Co. LLC.

Issuer:Morgan Stanley
Issue:Contingent income auto-callable securities
Underlying index:lululemon athletica inc.
Amount:$4,394,700
Maturity:May 21, 2015
Contingent payment:14% for quarter if lululemon athletica stock closes at or above downside threshold level on determination date for that quarter
Price:Par of $10
Payout at maturity:Par plus contingent coupon if lululemon athletica stock finishes at or above downside threshold; otherwise full exposure to any losses
Call:At par plus contingent payment if lululemon athletica stock closes at or above initial share price on any determination date
Initial share price:$45.15
Trigger level:$33.863, 75% of initial price
Pricing date:May 16
Settlement date:May 21
Agents:Morgan Stanley & Co. LLC
Fees:1.5%
Cusip:61761S182

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