New Issue: Morgan Stanley prices $8.87 million commodity Lasers linked to Brent blend crude oil

By Jennifer Chiou

New York, Feb. 27 - Morgan Stanley priced $8,872,000 of 0% commodity Lasers due March 28, 2013 linked to Brent blend crude oil, according to an FWP with the Securities and Exchange Commission.

If the price of Brent blend crude oil remains above 77% of the initial price throughout the life of the notes, the payout at maturity will be par plus the greater of the oil return and a fixed percentage of 10%.

If the price of Brent blend crude oil falls to or below 77% of the initial price during the life of the notes, the payout will be par plus the Brent blend crude oil return, which could be positive or negative.

In either case, the maximum payout at maturity will be $1,300 per $1,000 principal amount.

Morgan Stanley & Co. LLC is the underwriter.

Issuer:	Morgan Stanley
Issue:	Commodity Lasers
Underlying commodity:	Brent blend crude oil
Amount:	$8,872,000
Maturity:	March 28, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	If Brent blend crude oil price never falls by more than 23% during life of the notes, par plus greater of oil return and 10%; otherwise, par plus Brent blend crude oil return, with exposure to losses; in both cases, maximum payout is $1,300 per $1,000 of notes
Initial price:	$125.47
Pricing date:	Feb. 23
Settlement date:	Feb. 28
Agent:	Morgan Stanley & Co. LLC
Fees:	2%
Cusip:	617482M35

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