New Issue: Morgan Stanley prices $31.5 million 20% notes exchangeable for Exxon

By Jennifer Chiou

New York, Dec. 13 - Morgan Stanley priced $31,502,555 of 20% notes due Dec. 22, 2006 exchangeable for Exxon Mobil Corp. stock, according to a filing with the Securities and Exchange Commission.

Issuer:	Morgan Stanley
Issue:	Reverse exchangeable medium-term notes, series F
Underlying stock:	Exxon Mobil Corp.
Amount:	$31,502,555
Maturity:	Dec. 22, 2006
Coupon:	20%, payable monthly
Price:	Par of $59.45
Exchange ratio:	0.833333 Exxon Mobil shares
Payout at maturity:	Par if Exxon Mobil stock exceeds the exchange price of $71.34, otherwise 0.833333 Exxon Mobil shares
Pricing date:	Dec. 13
Settlement:	Dec. 21
Underwriter:	Morgan Stanley

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