Morgan Stanley plans two-year commodity Lasers linked to silver

By Susanna Moon

Chicago, Nov. 5 - Morgan Stanley plans to price commodity 0% index Leading Stockmarket Return Securities due November 2012 based on the price of silver, according to an FWP filing with the Securities and Exchange Commission.

If the price of silver finishes at or above 65% of the initial level, the payout at maturity will be par of $10 plus the greater of the return and a fixed percentage of 13% to 15%, with the exact amount to be set at pricing.

Otherwise, the payout will be par plus the return on silver with exposure to losses.

The maximum payout at maturity will be $1,280 per $1,000 principal amount.

The notes (Cusip 617482PH1) are expected price and settle in November.

Morgan Stanley & Co. Inc. is the agent.

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