Morgan Stanley to price 0% buffered PLUS linked to gold

By Susanna Moon

Chicago, Feb. 23 - Morgan Stanley plans to price 0% buffered Performance Leveraged Upside Securities due March 31, 2011 linked to the price of gold, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 140% of any gain in the price of gold, up to a maximum payout of 170% to 175% of par. The exact cap will be set at pricing.

Investors will receive par if the index falls by up to 15% and will be exposed to losses beyond 15%.

The notes will price and settle in March.

Morgan Stanley & Co. Inc. will be the agent.

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