New Issue: Morgan Stanley prices $8.4 million issue of 0% PLUS notes linked to Amex Defense

By Jennifer Chiou

New York, Aug. 24 - Morgan Stanley priced an $8.4 million issue of 0% global medium-term series F notes due Feb. 20, 2008 in the Performance Leveraged Upside Securities (PLUS) structure linked to the Amex Defense index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10.00 plus double any positive return on the index. The payout will be capped at $11.70. Investors will participate fully in any loss.

Issuer:	Morgan Stanley
Issue:	PLUS (Performance Leveraged Upside Securities) senior medium-term series F notes
Underlying index:	Amex Defense
Amount:	$8.4 million
Maturity:	Feb. 20, 2008
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	Par plus double any positive return of the index, capped at $11.70 per PLUS; full participation in any loss
Initial index value:	1,091.69
Pricing date:	Aug. 23
Settlement date:	Aug. 30
Agent:	Morgan Stanley & Co. Inc.

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