Obligation Morgan Stanleigh 6.875% ( US61761JJB61 ) en USD

Morgan Stanleigh

104.25 % ▲

Etas-Unis

US61761JJB61 ( en USD )

6.875% par an ( paiement semestriel )

18/06/2032

Prospectus brochure de l'obligation Morgan Stanley US61761JJB61 en USD 6.875%, échéance 18/06/2032

1 000 USD

1 243 000 USD

61761JJB6

18/12/2025 ( Dans 165 jours )

Morgan Stanley est une firme mondiale de services financiers offrant des services de banque d'investissement, de gestion de patrimoine et de courtage à une clientèle institutionnelle et privée.

L'Obligation émise par Morgan Stanleigh ( Etas-Unis ) , en USD, avec le code ISIN US61761JJB61, paye un coupon de 6.875% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 18/06/2032

L'Obligation émise par Morgan Stanleigh ( Etas-Unis ) , en USD, avec le code ISIN US61761JJB61, a été notée NR par l'agence de notation Moody's.

L'Obligation émise par Morgan Stanleigh ( Etas-Unis ) , en USD, avec le code ISIN US61761JJB61, a été notée NR par l'agence de notation Standard & Poor's ( S&P ).

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424B2 1 dp38979_424b2-ps882.htm FORM 424B2
CALCULATION OF REGISTRATION FEE

Maximum Aggregate
Amount of Registration

Title of Each Class of Securities Offered
Offering Price
Fee
Contingent Coupon Notes due 2032

$1,243,000

$169.54

June 2013

Pricing Supplement No. 882
Registration Statement No. 333-178081
Dated June 13, 2013
Filed pursuant to Rule 424(b)(2)
STRUCTURED INVESTMENTS
Opportunities in International Equities
Contingent Coupon Notes Based on the Performance of the EURO STOXX 50® Index due June 18, 2032
The notes are unsecured obligations of Morgan Stanley and have the terms described in the accompanying prospectus supplement, index supplement and
prospectus, as supplemented or modified by this document. Unlike ordinary debt securities, the notes do not provide for the regular payment of interest
and instead wil pay a contingent monthly coupon but only if the index closing value of the EURO STOXX 50® Index on the related observation date is at
or above 70% of the initial index value, which we refer to as the barrier level. If the index closing value is less than the barrier level on any observation
date, we wil pay no interest for the related interest period. At maturity, you wil receive an amount equal to the stated principal amount for each note you
hold plus the contingent monthly coupon with respect to the final observation date, if any. Investors will not participate in any appreciation of the
EURO STOXX 50® Index and should be willing to hold their notes for the entire 19-year term. These long-dated notes are for investors who seek
an opportunity to earn interest at a potential y above-market rate in exchange for the risk of receiving no monthly interest over the 19-year term if the
EURO STOXX 50® Index closes below the barrier level on the observation dates. The notes are notes issued as part of Morgan Stanley's Series F
Global Medium-Term Notes program.
All payments are subject to the credit risk of Morgan Stanley. If Morgan Stanley defaults on its obligations, you could lose some or all of your
investment. These notes are not secured obligations and you will not have any security interest in, or otherwise have any access to, any
underlying reference asset or assets.
FINAL TERMS
Issuer:
Morgan Stanley
Underlying index:
EURO STOXX 50® Index
Aggregate principal amount:
$1,243,000
Stated principal amount:
$1,000 per note
Issue price:
$1,000 per note (See "Commissions and issue price" below)
Pricing date:
June 13, 2013
Original issue date:
June 18, 2013 (3 business days after the pricing date)
Maturity date:
June 18, 2032
Contingent monthly coupon:
A contingent coupon at a rate of 6.875% per annum (corresponding to approximately $5.7292 per month per note)
is paid monthly only if the closing value of the underlying index is at or above the barrier level on the related
observation date.
If, on any observation date, the closing value of the underlying index is less than the barrier level, we will
pay no coupon for the applicable interest period. It is possible that the underlying index could remain
below the barrier level for extended periods of time or even throughout the entire 19-year term of the
notes so that you will receive few or no contingent monthly coupons.
Barrier level:
1,863.197, which is 70% of the initial index value
Initial index value:
2,661.71, which is the index closing value on the pricing date
Contingent coupon payment dates: The 18th day of each month, beginning July 18, 2013; provided that if any such day is not a business day, that
contingent monthly coupon, if any, wil be made on the next succeeding business day and no adjustment wil be
made to any coupon payment made on that succeeding business day; provided further that the contingent coupon,
if any, with respect to the final observation date shal be paid on the maturity date.
Observation dates:
The third scheduled business day preceding each scheduled contingent coupon payment date, beginning with the
July 18, 2013 contingent coupon payment date, subject to postponement for non-index business days and certain
market disruption events.
Payment at maturity:
At maturity, you wil receive an amount equal to the stated principal amount for each note you hold plus the
contingent monthly coupon with respect to the final observation date, if any.
CUSIP / ISIN:
61761JJB6 / US61761JJB61
Listing:
The notes wil not be listed on any securities exchange.
Agent:
Morgan Stanley & Co. LLC ("MS & Co."), a whol y-owned subsidiary of Morgan Stanley. See "Supplemental
information regarding plan of distribution; conflicts of interest."
Estimated value on the pricing
$917.60 per note. See "Investment Summary" beginning on page 2.
date:
Commissions and issue price:
Price to public
Agent's commissions(1)
Proceeds to issuer(2)
Per note
$1,000
$20
$980
Total
$1,243,000
$24,860
$1,218,140
(1) Selected dealers and their financial advisors will collectively receive from the agent, MS & Co., a fixed sales commission of $20 for each note they sell. See "Supplemental information
regarding plan of distribution; conflicts of interest." For additional information, see "Plan of Distribution (Conflicts of Interest)" in the accompanying prospectus supplement.
(2) See "Use of proceeds and hedging" on page 14.

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The notes involve risks not associated with an investment in ordinary debt securities. See "Risk Factors" beginning on page 5.
The Securities and Exchange Commission and state securities regulators have not approved or disapproved these notes, or determined if this document or the accompanying
prospectus supplement, index supplement and prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
The notes are not bank deposits and are not insured by the Federal Deposit Insurance Corporation or any other governmental agency, nor are they obligations of, or guaranteed
by, a bank.
You should read this document together with the related prospectus supplement, index supplement and prospectus, each of which can be accessed via the hyperlinks
below. Please also see "Additional Information About the Notes" at the end of this document.

Prospectus Supplement dated November 21, 2011
Index Supplement dated November 21, 2011 Prospectus dated November 21, 2011

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Investment Summary

Contingent Coupon Notes Based on the Performance of the EURO STOXX 50® Index due June 18, 2032 (the "notes") do not provide for the regular
payment of interest and instead wil pay a contingent monthly coupon but only if the index closing value of the EURO STOXX 50® Index is at or above
70% of the initial index value, which we refer to as the barrier level, on the related observation date. If the index closing value is less than the barrier
level on any observation date, we wil pay no interest for the related interest period. It is possible that the index closing value could remain below the
barrier level for extended periods of time or even throughout the entire 19-year term of the notes so that you wil receive few or no contingent monthly
coupons. We refer to the coupon on the notes as contingent, because there is no guarantee that you wil receive a coupon payment on any contingent
coupon payment date. Even if the underlying index were to be at or above the barrier level on some monthly observation dates, it may fluctuate below the
barrier level on others. At maturity, you wil receive an amount equal to the stated principal amount for each note you hold plus the contingent monthly
coupon with respect to the final observation date, if any.

Maturity:
19 years

Contingent monthly
From and including the original issue date to but excluding the maturity date, a contingent coupon at a rate of 6.875% per
coupon:
annum (corresponding to approximately $5.7292 per month per note) is paid monthly only if the closing value of the
underlying index is at or above the barrier level on the related observation date.

If on any observation date, the closing value of the underlying index is less than the barrier level, we will pay no
coupon for the applicable interest period.

Morgan Stanley clients may contact their local Morgan Stanley branch office or our principal executive offices at 1585 Broadway, New York, New York
10036 (telephone number (866) 477-4776). Al other clients may contact their local brokerage representative. Third-party distributors may contact
Morgan Stanley Structured Investment Sales at (800) 233-1087.

The original issue price of each note is $1,000. This price includes costs associated with issuing, sel ing, structuring and hedging the notes, which are
borne by you, and, consequently, the estimated value of the notes on the pricing date is less than $1,000. We estimate that the value of each note on the
pricing date is $917.60.

What goes into the estimated value on the pricing date?

In valuing the notes on the pricing date, we take into account that the notes comprise both a debt component and a performance-based component linked
to the underlying index. The estimated value of the notes is determined using our own pricing and valuation models, market inputs and assumptions
relating to the underlying index, instruments based on the underlying index, volatility and other factors including current and expected interest rates, as wel
as an interest rate related to the implied interest rate at which our conventional fixed rate debt trades in the secondary market (the "secondary market
credit spread").

What determines the economic terms of the notes?

In determining the economic terms of the notes, we use an internal funding rate which is likely to be lower than our secondary market credit spreads and
therefore advantageous to us. If the issuing, sel ing, structuring and hedging costs borne by you were lower or if the internal funding rate were higher, one
or more terms of the notes, such as the contingent monthly coupon or the barrier level, would be more favorable to you.

What is the relationship between the estimated value on the pricing date and the secondary market price of the notes?

The price at which MS & Co. purchases the notes in the secondary market, absent changes in market conditions, including those related to the underlying
index, may vary from, and be lower than, the estimated value on the pricing date, because the secondary market price takes into account our secondary
market credit spread as wel as the bid-offer spread that MS & Co. would charge in a secondary market transaction of this type and other
factors. However, because the costs associated with issuing, sel ing, structuring and hedging the notes are not ful y deducted upon issuance, for a period
of up to 18 months fol owing the issue date, to the extent that MS & Co. may buy or sel the notes in the secondary market, absent changes in market

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conditions, including those related to the underlying index, and to our secondary market credit spreads, it would do so based on values higher than the
estimated value. We expect that those higher values wil also be reflected in your brokerage account statements.

MS & Co. may, but is not obligated to, make a market in the notes and, if it once chooses to make a market, may cease doing so at any time.

Key Investment Rationale

The notes do not provide for the regular payment of interest and instead wil pay a contingent monthly coupon but only if the index closing value of the
EURO STOXX 50® Index is at or above 70% of the initial index value, which we refer to as the barrier level, on the related observation date. The notes
have been designed for investors who are wil ing to forgo market floating interest rates and accept the risk of no interest payments during the entire
19-year term of the notes in exchange for an opportunity to earn interest at a potential y above market rate if the EURO STOXX 50® Index closes at or
above the barrier level on each monthly observation date. The fol owing scenarios are for il ustration purposes only to demonstrate how the coupon is
calculated, and do not attempt to demonstrate every situation that may occur.

Scenario 1: A contingent monthly
This scenario assumes that the underlying index closes at or above the barrier level on every monthly
coupon is paid for al interest periods,
observation date. Investors receive the 6.875% per annum contingent monthly coupon for each interest
which is the best case scenario.
period during the term of the notes.
Scenario 2: A contingent monthly
This scenario assumes that the underlying index closes at or above the barrier level on some monthly
coupon is paid for some, but not al ,
observation dates but below the barrier level on the others. Investors receive the contingent monthly coupon
interest periods
for the monthly interest periods that the index closing value is at or above the barrier level on the related
observation date, but not for the interest periods that the underlying index closes below the barrier level on
the related observation date.
Scenario 3 : No contingent monthly
This scenario assumes that the underlying index closes below the barrier level on every monthly observation
coupon is paid for any interest period
date. Since the underlying index closes below the barrier level on every monthly observation date, investors
and investors receive zero return over
do not receive any contingent monthly coupon during the 19-year term of the notes.
the 19-year term of the notes.

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EURO STOXX 50® Index Summary

The EURO STOXX 50® Index was created by STOXX® Limited, which is owned by Deutsche Börse AG and SIX Group AG. Publication of the EURO
STOXX 50® Index began on February 26, 1998, based on an initial index value of 1,000 at December 31, 1991. The EURO STOXX 50® Index is
composed of 50 component stocks of market sector leaders from within the STOXX 600 Supersector Indices, which includes stocks selected from the
Eurozone. The component stocks have a high degree of liquidity and represent the largest companies across al market sectors.

Information as of market close on June 13, 2013:

Bloomberg Ticker Symbol:
SX5E
Current Index Value:
2,661.71
52 Weeks Ago:
2,143.50
52 Week High (on 5/28/2013):
2,835.87
52 Week Low (on 6/26/2012):
2,127.95

For additional information about the EURO STOXX 50® Index, see the information set forth under "EURO STOXX 50® Index" in the accompanying index
supplement. Furthermore, for additional historical information, see "EURO STOXX 50® Index Historical Performance" below.

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Risk Factors
The following is a non-exhaustive list of certain key risk factors for investors in the notes. For further discussion of these and other risks, you should
read the section entitled "Risk Factors" in the accompanying prospectus supplement, index supplement and prospectus.

§
The notes do not provide for regular interest payments. The terms of the notes differ from those of ordinary debt securities in that they do not
provide for the regular payment of interest and instead wil pay a contingent monthly coupon but only if the index closing value of the EURO STOXX
50® Index is at or above 70% of the initial index value, which we refer to as the barrier level, on the related observation date. If, on the other hand,
the index closing value of the underlying index is lower than the barrier level on the relevant observation date for any interest period, we wil pay no
coupon on the applicable contingent coupon payment date. It is possible that the index closing value could remain below the barrier level for extended
periods of time or even throughout the entire 19-year term of the notes so that you wil receive few or no contingent monthly coupons. If you do not
earn sufficient contingent coupons over the term of the notes, the overal return on the notes may be less than the amount that would be paid on a
conventional debt security of the issuer of comparable maturity.

§
The contingent monthly coupon, if any, is paid on a monthly basis and is based solely on the index closing value of the underlying index
on the related monthly observation date at the end of the related interest period. Whether the contingent monthly coupon wil be paid on any
contingent coupon payment date wil be determined at the end of the relevant interest period, based on the index closing value of the underlying index
on the relevant monthly observation date. As a result, you wil not know whether you wil receive the contingent monthly coupon on any contingent
coupon payment date until near the end of the relevant interest period. Moreover, because the contingent monthly coupon is based solely on the value
of the underlying index on monthly observation dates, if the closing value of the underlying index on any observation date is below the barrier level, you
wil receive no coupon for the related interest period even if the level of the underlying index was at or above the barrier level on other days during that
interest period.

§
The market price will be influenced by many unpredictable factors. Several factors, many of which are beyond our control, wil influence the
value of the notes in the secondary market and the price at which MS & Co. may be wil ing to purchase or sel the notes in the secondary market. We
expect that generally the level of interest rates available in the market and the value of the underlying index on any day, including in relation to the
barrier level, wil affect the value of the notes more than any other factors. Other factors that may influence the value of the notes include:

o
the volatility (frequency and magnitude of changes in value) of the EURO STOXX 50® Index,

o
whether the index closing value of the EURO STOXX 50® Index has been below the barrier level on any observation date,

o
geopolitical conditions and economic, financial, political, regulatory or judicial events that affect the component stocks of the underlying
index or securities markets generally and which may affect the value of the underlying index,

o
dividend rates on the securities underlying the EURO STOXX 50® Index,

o
the time remaining until the notes mature,

o
interest and yield rates in the market,

o
the availability of comparable instruments,

o
the composition of the EURO STOXX 50® Index and changes in the constituent stocks of such index, and

o
any actual or anticipated changes in our credit ratings or credit spreads.

Some or al of these factors wil influence the price that you wil receive if you sel your notes prior to maturity. General y, the longer the time remaining
to maturity, the more the market price of the notes wil be affected by the other factors described above. In particular, if the EURO STOXX 50® Index
has closed near or below the barrier level, the market value of the notes is expected to decrease substantial y and you may have to sel your notes at
a substantial discount from the stated principal amount of $1,000 per note.

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You cannot predict the future performance of the EURO STOXX 50® Index based on its historical performance. The value of the underlying index may
decrease and be below the barrier level on each observation date so that you wil receive no return on your investment throughout the entire 19-year
term of the notes. There can be no assurance that the closing value of the underlying index wil be at or above the barrier level on any observation
date so that you wil receive a coupon payment on the notes for the applicable interest period. See "EURO STOXX 50® Index Historical Performance"
below.

§
The notes are subject to the credit risk of Morgan Stanley, and any actual or anticipated changes to its credit ratings or credit spreads
may adversely affect the market value of the notes. Under the terms of the notes, Morgan Stanley is obligated to return to you the stated
principal amount at maturity. However, as with an ordinary debt security, you are dependent on Morgan Stanley's ability to pay all amounts due on the
notes at maturity or on any contingent coupon payment date, and therefore you are subject to the credit risk of Morgan Stanley. The notes are not
guaranteed by any other entity. If Morgan Stanley defaults on its obligations under the notes, your investment would be at risk and you could lose
some or al of your investment. As a result, the market value of the notes prior to maturity wil be affected by changes in the market's view of Morgan
Stanley's creditworthiness. Any actual or anticipated decline in Morgan Stanley's credit ratings or increase in the credit spreads charged by the
market for taking Morgan Stanley credit risk is likely to adversely affect the market value of the notes.

§
Not equivalent to investing in the underlying index. Investing in the notes is not equivalent to investing in the underlying index or its component
stocks. Investors in the notes wil not have voting rights or rights to receive dividends or other distributions or any other rights with respect to stocks
that constitute the underlying index, and investors wil not participate in any appreciation of the underlying index over the term of the notes.

§
The notes will not be listed on any securities exchange and secondary trading may be limited. The notes wil not be listed on any securities
exchange. Therefore, there may be little or no secondary market for the notes. MS & Co. may, but is not obligated to, make a market in the notes
and, if it once chooses to make a market, may cease doing so at any time. When it does make a market, it wil general y do so for transactions of
routine secondary market size at prices based on its estimate of the current value of the securities, taking into account its bid/offer spread, our credit
spreads, market volatility, the notional size of the proposed sale, the cost of unwinding any related hedging positions, the time remaining to maturity
and the likelihood that it wil be able to resel the securities. Even if there is a secondary market, it may not provide enough liquidity to allow you to
trade or sel the notes easily. Since other broker-dealers may not participate significantly in the secondary market for the notes, the price at which
you may be able to trade your notes is likely to depend on the price, if any, at which MS & Co. is wil ing to transact. If, at any time, MS & Co. were
not to make a market in the notes, it is likely that there would be no secondary market for the notes. Accordingly, you should be willing to hold your
notes to maturity.

§
There are risks associated with investments in securities linked to the value of foreign equity securities. The notes are linked to the value of
foreign equity securities. Investments in securities linked to the value of foreign equity securities involve risks associated with the securities markets in
those countries, including risks of volatility in those markets, governmental intervention in those markets and cross-shareholdings in companies in
certain countries. Also, there is generally less publicly available information about foreign companies than about U.S. companies that are subject to
the reporting requirements of the United States Securities and Exchange Commission, and foreign companies are subject to accounting, auditing and
financial reporting standards and requirements different from those applicable to U.S. reporting companies. The prices of securities issued in foreign
markets may be affected by political, economic, financial and social factors in those countries, or global regions, including changes in government,
economic and fiscal policies and currency exchange laws. Local securities markets may trade a smal number of securities and may be unable to
respond effectively to increases in trading volume, potential y making prompt liquidation of holdings difficult or impossible at times. Moreover, the
economies in such countries may differ favorably or unfavorably from the economy in the United States in such respects as growth of gross national
product, rate of inflation, capital reinvestment, resources, self-sufficiency and balance of payment positions.

§
The rate we are willing to pay for securities of this type, maturity and issuance size is likely to be lower than the rate implied by our
secondary market credit spreads and advantageous to us. Both the lower rate and the inclusion of costs associated with issuing, selling,
structuring and hedging the notes in the original issue price reduce the economic terms of the notes, cause the estimated value of the
notes to be less than the original issue price and will adversely affect secondary market prices. Assuming no change in market conditions or
any other relevant factors, the prices, if any, at which dealers, including MS & Co., may be wil ing to purchase the notes in secondary market
transactions will likely be significantly lower than the original issue price, because secondary market prices will

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exclude the issuing, sel ing, structuring and hedging-related costs that are included in the original issue price and borne by you and because the
secondary market prices wil reflect our secondary market credit spreads and the bid-offer spread that any dealer would charge in a secondary
market transaction of this type as wel as other factors.

The inclusion of the costs of issuing, sel ing, structuring and hedging the notes in the original issue price and the lower rate we are wil ing to pay as
issuer make the economic terms of the notes less favorable to you than they otherwise would be.

However, because the costs associated with issuing, sel ing, structuring and hedging the notes are not ful y deducted upon issuance, for a period of up
to 18 months fol owing the issue date, to the extent that MS & Co. may buy or sel the notes in the secondary market, absent changes in market
conditions, including those related to the underlying index, and to our secondary market credit spreads, it would do so based on values higher than the
estimated value, and we expect that those higher values wil also be reflected in your brokerage account statements.

§
The estimated value of the notes is determined by reference to our pricing and valuation models, which may differ from those of other
dealers and is not a maximum or minimum secondary market price. These pricing and valuation models are proprietary and rely in part on
subjective views of certain market inputs and certain assumptions about future events, which may prove to be incorrect. As a result, because there is
no market-standard way to value these types of securities, our models may yield a higher estimated value of the notes than those generated by
others, including other dealers in the market, if they attempted to value the notes. In addition, the estimated value on the pricing date does not
represent a minimum or maximum price at which dealers, including MS & Co., would be wil ing to purchase your notes in the secondary market (if any
exists) at any time. The value of your notes at any time after the date of this pricing supplement wil vary based on many factors that cannot be
predicted with accuracy, including our creditworthiness and changes in market conditions. See also "The market price wil be influenced by many
unpredictable factors" above.

§
Hedging and trading activity by our subsidiaries could potentially affect the value of the notes. One or more of our subsidiaries and/or
third-party dealers have carried out, and wil continue to carry out, hedging activities related to the notes, including trading in the stocks that constitute
the underlying index as wel as in other instruments related to the underlying index. Some of our subsidiaries also trade the stocks that constitute the
underlying index and other financial instruments related to the underlying index on a regular basis as part of their general broker-dealer and other
businesses. Any of these hedging or trading activities on or prior to the pricing date could have increased the initial index value and, therefore, could
have increased the barrier level, which is the value at which the underlying index must close on the observation dates in order for you to earn a
contingent monthly coupon. Additionally, such hedging or trading activities during the term of the notes could affect whether the underlying index
closes at or above the barrier level on the observation dates and, accordingly, whether we pay a contingent monthly coupon on the notes.

§
The calculation agent, which is a subsidiary of the issuer, will make determinations with respect to the notes. As calculation agent, MS &
Co. has determined the initial index value and the barrier level and wil determine whether you receive a contingent monthly coupon on each contingent
coupon payment date and at maturity. Any of these determinations made by MS & Co. in its capacity as calculation agent, including with respect to
the occurrence or non-occurrence of market disruption events and the selection of a successor index or calculation of the index closing value in the
event of a market disruption event or discontinuance of the underlying index, may adversely affect the payout to you at maturity. In addition, MS & Co.
has determined the estimated value of the notes on the pricing date.

§
Adjustments to the underlying index could adversely affect the value of the notes. The publisher of the underlying index may add, delete or
substitute the component stocks of the underlying index or make other methodological changes that could change the value of the underlying
index. Any of these actions could adversely affect the value of the notes. The publisher of the underlying index may also discontinue or suspend
calculation or publication of the underlying index at any time. In these circumstances, MS & Co., as the calculation agent, wil have the sole discretion
to substitute a successor index that is comparable to the discontinued index. MS & Co. could have an economic interest that is different than that of
investors in the notes insofar as, for example, MS & Co. is permitted to consider indices that are calculated and published by MS & Co. or any of its
affiliates. If MS & Co. determines that there is no appropriate successor index on any observation date, the determination of whether a contingent
monthly coupon wil be payable on the notes on the applicable contingent coupon payment date wil be based on whether the value of the underlying
index, based on the closing prices of the stocks constituting the underlying index at the time of such discontinuance, without rebalancing or substitution,
computed by MS & Co. as calculation agent in accordance with the formula for calculating the underlying index last in effect prior to such
discontinuance, is less than the barrier level.

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EURO STOXX 50® Index Historical Performance

The fol owing graph sets forth the daily closing values of the underlying index for the period from January 1, 2003 through June 13, 2013. The related
table sets forth the published high and low closing values, as wel as end-of-quarter closing values, of the underlying index for each quarter from January
1, 2008 through June 13, 2013. The closing value of the underlying index on June 13, 2013 was 2,661.71. We obtained the information in the table and
graph below from Bloomberg Financial Markets, without independent verification. The historical values of the underlying index should not be taken as an
indication of future performance, and no assurance can be given as to the level of the underlying index on any observation date.

Underlying Index Historical Performance
Daily Closing Values
January 1, 2003 to June 13, 2013
* The red solid line in the graph indicates the barrier level of 1,863.197, which is 70% of the initial index
value.

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http://www.sec.gov/Archives/edgar/data/895421/000095010313003721/...

Contingent Coupon Notes Based on the Performance of the EURO STOXX 50® Index due June 18, 2032

EURO STOXX 50® Index
High
Low
Period End
2008

First Quarter
4,339.23
3,431.82
3,628.06
Second Quarter
3,882.28
3,340.27
3,352.81
Third Quarter
3,445.66
3,000.83
3,038.20
Fourth Quarter
3,113.82
2,165.91
2,447.62
2009

First Quarter
2,578.43
1,809.98
2,071.13
Second Quarter
2,537.35
2,097.57
2,401.69
Third Quarter
2,899.12
2,281.47
2,872.63
Fourth Quarter
2,992.08
2,712.30
2,964.96
2010

First Quarter
3,017.85
2,631.64
2,931.16
Second Quarter
3,012.65
2,488.50
2,573.32
Third Quarter
2,827.27
2,507.83
2,747.90
Fourth Quarter
2,890.64
2,650.99
2,792.82
2011

First Quarter
3,068.00
2,721.24
2,910.91
Second Quarter
3,011.25
2,715.88
2,848.53
Third Quarter
2,875.67
1,995.01
2,179.66
Fourth Quarter
2,476.92
2,090.25
2,316.55
2012

First Quarter
2,608.42
2,286.45
2,477.28
Second Quarter
2,501.18
2,068.66
2,264.72
Third Quarter
2,594.56
2,151.54
2,454.26
Fourth Quarter
2,659.95
2,427.32
2,635.93
2013

First Quarter
2,749.27
2,570.52
2,624.02
Second Quarter (through June 13, 2013)
2,835.87
2,553.49
2,719.40

License Agreement between STOXX Limited and Morgan Stanley

"EURO STOXX®" and "STOXX®" are registered trademarks of STOXX Limited and have been licensed for use for certain purposes by Morgan
Stanley. For more information, see "EURO STOXX 50® Index" in the accompanying index supplement.

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