Morgan Stanley plans issue of 0% PLUS notes linked to iShares MSCI Emerging Markets

By Angela McDaniels

Seattle, April 3 - Morgan Stanley plans to price an issue of 0% global medium-term series F notes due May 20, 2007 in the PLUS (Performance Leveraged Upside Securities) structure linked to the iShares MSCI Emerging Markets Index Fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be based on the performance of the closing price of shares of the index fund. Investors will receive par of $10.00 plus triple any positive return on the index fund.

The return will be capped at between 12% and 22%, with the exact value to be set at pricing, and will have a floor of par.

Morgan Stanley will be the underwriter.

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