New Issue: Morgan Stanley prices $4 million issue of 0% PLUS notes linked to AMEX Gold BUGS

By Jennifer Chiou

New York, July 25 - Morgan Stanley priced a $4 million issue of 0% global medium-term series F notes due Aug. 20, 2007 in the PLUS (Performance Leveraged Upside Securities) structure linked to the AMEX Gold BUGS index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10.00 plus triple any positive return on the index. The payout will be capped at $13.10. Investors will participate fully in any loss.

Issuer:	Morgan Stanley
Issue:	PLUS (Performance Leveraged Upside Securities) senior medium-term series F notes
Underlying index:	AMEX Gold BUGS
Amount:	$4 million
Maturity:	Aug. 20, 2007
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	Par plus triple any positive return of the index, capped at $13.10 per PLUS; full participation in any loss
Initial index value:	316.13
Pricing date:	July 24
Settlement date:	July 31
Agent:	Morgan Stanley & Co. Inc.

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