New Issue: Morgan Stanley prices $3 million 13% ELKS linked to Las Vegas Sands

By Jennifer Chiou

New York, Sept. 2 - Morgan Stanley priced $3 million of 13% Equity LinKed Securities due Sept. 7, 2012 linked to Las Vegas Sands Corp. shares, according to an FWP with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Las Vegas Sands shares fall below the protection price of $19.1035, 65% of the initial price of $29.39, during the life of the notes and finish below the initial price in which case the payout will be 0.34025 shares of Las Vegas Sands stock.

Morgan Stanley & Co. Inc. is the agent.

Issuer:	Morgan Stanley
Issue:	Equity LinKed Securities
Underlying stock:	Las Vegas Sands Corp. (Symbol: LVS)
Amount:	$3 million
Maturity:	Sept. 7, 2012
Coupon:	13%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Las Vegas Sands shares fall below the protection price of $19.1035, 65% of the initial price, and finish below the initial price, in which case 0.34025 shares of Las Vegas Sands stock
Initial price:	$29.39
Protection price:	$19.1035, 65% of $29.39
Exchange ratio:	0.34025
Pricing date:	Sept. 1
Settlement date:	Sept. 7
Agent:	Morgan Stanley & Co. Inc.
Fees:	1.6875%
Cusip:	61759G331

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