Morgan Stanley cuts trigger for six-month ELKS linked to Halliburton

By Susanna Moon

Chicago, Oct. 3 - Morgan Stanley lowered the trigger level for its 15% to 17% annualized Equity LinKed Securities due April 24, 2012 linked to Halliburton Co. shares, according to an FWP with the Securities and Exchange Commission.

The payout at maturity will be par of $10 unless Halliburton shares fall to or below 70% of the initial price during the life of the notes, in which case the payout will be a number of shares of Halliburton stock equal to $10 divided by the initial price or, at the issuer's option, a cash amount equal to the value of those shares.

The trigger level was originally set at 80%.

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

Morgan Stanley & Co. LLC is the agent.

The notes will price on Oct. 25 and settle on Oct. 28.

The Cusip number is 61760P833.

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