Morgan Stanley plans six-month 10%-12% ELKS tied to Freeport-McMoRan

By Toni Weeks

San Diego, Jan. 31 - Morgan Stanley plans to price 10% to 12% annualized Equity LinKed Securities due Aug. 25, 2011 based on the performance of Freeport-McMoRan Copper & Gold Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact coupon will be set at pricing.

The payout at maturity will be par of $10 unless Freeport-McMoRan stock closes at or below the threshold price - 80% of the initial share price - during the life of the notes, in which case the payout will be a number of Freeport-McMoRan shares equal to $10 divided by the initial share price or, at the issuer's option, the value of those shares in cash.

The notes (Cusip: 61760E200) will price Feb. 22 and settle Feb. 25.

Morgan Stanley & Co. is the agent.

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