Morgan Stanley plans to price six-month 8%-11% ELKS linked to Intel

By Marisa Wong

Milwaukee, May 25 - Morgan Stanley plans to price 8% to 11% annualized Equity LinKed Securities due Dec. 27, 2010 based on the common stock of Intel Corp., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

If the stock's closing share price remains above 80% of the initial share price throughout the life of the notes, the payout at maturity will be par of $10. Otherwise, the payout will be a number of Intel shares equal to $10 divided by the initial share price or, at Morgan Stanley's option, the cash equivalent.

The notes will price on June 24 and settle on June 29.

Morgan Stanley & Co. Inc. is the agent.

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