Morgan Stanley plans range accrual notes linked to CMS curve, S&P 500

By Angela McDaniels

Tacoma, Wash., April 16 - Morgan Stanley plans to price CMS curve and S&P 500 index-linked range accrual notes with automatic redemption due April 30, 2032, according to an FWP filing with the Securities and Exchange Commission.

The interest rate will be 9% for the first year. Beginning April 30, 2013, the interest rate will be 9% per year multiplied by the proportion of days on which the 30-year Constant Maturity Swap rate is greater than or equal to the two-year CMS rate and the closing level of the S&P 500 is at least 990. Interest will be payable monthly.

The payout at maturity will be par.

Beginning April 30, 2017, the notes will be automatically redeemed at par if the index closes at or above the initial index level on the 30th day of any month.

The notes (Cusip: 61760QBB9) will settle April 30.

Morgan Stanley & Co. LLC is the agent.

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