New Issue: Morgan Stanley prices $6.41 million capital-protected notes linked to BRIC currencies

By Angela McDaniels

Tacoma, Wash., Aug. 25 - Morgan Stanley priced $6.41 million of zero-coupon capital-protected notes due May 31, 2012 linked to the performance of a basket of currencies relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.

The basket includes equal weights of the Brazilian real, Russian ruble, Indian rupee and Chinese renminbi.

The payout at maturity will be par plus 115% of any appreciation in the basket relative to the dollar. If the basket depreciates relative to the dollar, the payout will be par.

Morgan Stanley & Co. Inc. is the agent.

Issuer:	Morgan Stanley
Issue:	Capital-protected notes
Underlying currencies:	Brazilian real, Russian ruble, Indian rupee and Chinese renminbi, equally weighted
Amount:	$6,406,000
Maturity:	May 31, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 115% of any basket appreciation relative to dollar; floor of par
Initial exchange rates:	1.8339 reais per dollar; 31.5688 rubles per dollar; 48.50 rupees per dollar; 6.8309 renminbi per dollar
Pricing date:	Aug. 24
Settlement date:	Aug. 31
Agent:	Morgan Stanley & Co. Inc.
Fees:	1.75%

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