By Angela McDaniels
Tacoma, Wash., Nov. 22 - Morgan Stanley priced $9.21 million of 0% commodity Leading Stockmarket Return Securities due Nov. 23, 2012 linked to the price of silver, according to an FWP filing with the Securities and Exchange Commission.
If the price of silver remains at or above 65% of the initial price throughout the life of the notes, the payout at maturity will be par plus the greater of the silver return and 15%. Otherwise, the payout will be par plus the silver return, which could be positive or negative.
In each case, the payout at maturity will be capped at $1,280 per $1,000 principal amount.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Commodity Leading Stockmarket Return Securities
|
| Underlying commodity: | Silver
|
| Amount: | $9,207,000
|
| Maturity: | Nov. 23, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus greater of silver return and 15% if silver remains at or above 65% of initial price throughout life of notes; otherwise, par plus silver return; return capped at 28% in each case
|
| Initial silver price: | 2,657 cents
|
| Pricing date: | Nov. 18
|
| Settlement date: | Nov. 23
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 2.25%
|
| Cusip: | 617482PH1
|
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