Morgan Stanley to issue 14.1% RevCons linked to Sandisk stock

By Laura Lutz

Washington, March 5 - Morgan Stanley plans to price an issue of 14.1% RevCons due March 21, 2008 linked to Sandisk Corp. stock, according to an FWP filing with the Securities and Exchange Commission.

The notes are expected to price on March 16 and settle on March 21.

Payout at maturity will be par in cash if Sandisk stock stays at or above the protection price, 80% of the initial price, during the life of the notes and finishes at or above the initial price. Otherwise, the payout will be in Sandisk stock, with the number of shares equal to $1,000 divided by the initial share price.

Morgan Stanley & Co. Inc. will be the agent.

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