Morgan Stanley plans range accrual autocallables linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Jan. 24 - Morgan Stanley plans to price contingent coupon range accrual autocallable notes due Jan. 29, 2027 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The initial interest rate will be 7%. Beginning in January 2013, the interest rate will be 7% per year multiplied by the proportion of days on which the index closes at or above 950. Interest is payable monthly.

Beginning in January 2017, the notes will be automatically called if the index's closing level on any quarterly review date is greater than or equal to the initial index level. The payout will be par plus the contingent monthly coupon for the related interest determination date.

If the notes are not called, the payout at maturity will be par plus the final coupon.

The notes (Cusip: 617482F66) will price Jan. 27 and settle Jan. 31.

Morgan Stanley & Co. LLC is the agent.

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