Morgan Stanley plans CMS curve, Russell 2000 range accrual notes

By Susanna Moon

Chicago, Oct. 7 - Morgan Stanley plans to price leveraged CMS curve and Russell 2000 index-linked callable notes due Oct. 29, 2030, according to an FWP filing with the Securities and Exchange Commission.

The coupon will be 10% for the first year. After that, the rate will accrue at 10% per year on each day that the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate is at least zero and the level of the Russell 2000 is at least 525. Interest is payable quarterly.

The payout at maturity will be par.

The notes are callable at par on any interest payment date beginning Oct. 29, 2012.

The notes (Cusip 61745EQ79) will settle on Oct. 29.

Morgan Stanley & Co. Inc. is the agent.

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