New Issue: Morgan Stanley $37.3 million 8% SPARQS exchangeable for Texas Instruments

New York, April 16 - Morgan Stanley Dean Witter & Co. priced $37.3296 million of 8% Stock Participation Accreting Redemption Quarterly-pay Securities (SPARQS) mandatorily exchangeable for common stock of Texas Instruments Inc., according to a filing with the Securities and Exchange Commission.

The notes exchange at maturity into Texas Instruments stock unless they are called for cash first.

The senior notes were sold off Morgan Stanley's medium-term notes program on April 9 iva underwriter Morgan Stanley.

Issuer:	Morgan Stanley Dean Witter & Co.
Issue:	Stock Participation Accreting Redemption Quarterly-pay Securities (SPARQS)
Amount:	$37.3296 million
Maturity:	Sept. 15, 2003
Coupon:	8% payable quarterly beginning June 15, 2002
Price:	Par of $32.32 (closing price of Texas Instruments stock on pricing date of April 9)
Call:	April 17, 2003 onwards at price to give yield to call of 22.5%
Exchange ratio:	1
Settlement:	April 16
Listing:	"TIS" on American Stock Exchange
Cusip:	61744Y389

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