New Issue: Morgan Stanley prices $13.622 million 10% Sparqs exchangeable for Goodyear

New York, Oct. 28 - Morgan Stanley priced $13.622 million of one-year 10% Sparqs (Stock Participation Accreting Redemption Quarterly-pay Securities) that are mandatorily exchangeable for the common stock of Goodyear Tire & Rubber Co., according to a 424B3 filing with the Securities and Exchange Commission.

Issuer:	Morgan Stanley
Issue:	Sparqs (Stock Participation Accreting Redemption Quarterly-pay Securities) senior medium-term notes
Underlying stock:	Goodyear Tire & Rubber Co.
Amount:	$13.622 million
Maturity:	Nov. 1, 2005
Coupon:	10%, payable quarterly
Price:	Par of $9.73 (equal to closing price of Goodyear stock on pricing date)
Exchange ratio:	1 (mandatory, at maturity)
Call:	April 30, 2005 onwards at price to give yield to call of 22%
Pricing date:	Oct. 21
Settlement date:	Oct. 28
Underwriter:	Morgan Stanley
Listing:	"GDY" on American Stock Exchange

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