New Issue: Morgan Stanley prices $20.2 million 0.3% notes exchangeable for J.P. Morgan

New York, Jan. 23 - Morgan Stanley priced $20.225 million of 0.3% 7.5-year notes exchangeable for J.P. Morgan Chase & Co. common stock, according to a filing with the Securities and Exchange Commission.

J.P. Morgan stock closed at $38.92 on the pricing date of Jan. 15.

Issuer:	Morgan Stanley
Issue:	Exchangeable senior medium-term notes
Underlying stock:	J.P. Morgan Chase & Co.
Amount:	$20.225 million
Maturity:	July 30, 2011
Coupon:	0.3%
Price:	Par
Exchange ratio:	24.120567 in cash or stock at Morgan Stanley's option
Call:	July 15, 2006 onwards at par, subject to automatic exchange for stock or cash if value is higher than par
Pricing date:	Jan. 15
Settlement date:	Jan. 21
Underwriter:	Morgan Stanley

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