Morgan Stanley plans 0% notes linked to MSCI World Index

By Angela McDaniels

Seattle, April 3 - Morgan Stanley plans to price an issue of 0% global equity-linked notes due April 2010 linked to the MSCI World Index, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be based on the performance of the basket on four determination dates, which will fall in April of 2007, 2008, 2009 and 2010.

Investors will receive $950 per $1,000 principal amount of notes plus a supplemental redemption amount equal to $1,000 multiplied by the percentage, if any, by which the final average index level exceeds the initial index level. This number will be multiplied by the participation rate, which is expected to be 147% to 153% and will be determined at pricing.

If the final average index level is less than or equal to the initial index level, investors will receive $950 per $1,000 principal amount of notes.

Morgan Stanley will be the underwriter.

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