New Issue: Morgan Stanley prices $8.58 million contingent return optimization notes linked to S&P

By Angela McDaniels

Tacoma, Wash., May 30 - Morgan Stanley priced $8.58 million of 0% contingent return optimization securities due Nov. 30, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than or equal to the trigger level, the payout at maturity will be par of $10 plus the greater of 6% and the index return, subject to a maximum return of 35.55%. The trigger level is 80% of the initial level.

If the final index level is less than the trigger level, investors will be fully exposed to the index's decline from its initial level.

Morgan Stanley & Co. LLC is the underwriter, and UBS Financial Services Inc. is agent.

Issuer:	Morgan Stanley
Issue:	Contingent return optimization securities
Underlying index:	S&P 500
Amount:	$8,576,060
Maturity:	Nov. 30, 2015
Coupon:	0%
Price:	Par of $10.00 for brokerage accounts; $9.775 for advisory accounts
Payout at maturity:	If final index level is greater than or equal to trigger level, par plus greater of 6% and index return, subject to maximum return of 35.55%; if final index level is less than trigger level, full exposure to index's decline from initial level
Initial index level:	1,660.06
Trigger level:	1,328.05, 80% of initial level
Pricing date:	May 28
Settlement date:	May 31
Underwriter:	Morgan Stanley & Co. LLC
Agent:	UBS Financial Services Inc.
Fees:	2.25%
Cusip:	61762E257

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