Morgan Stanley to price 8%-10% ELKS linked to SanDisk shares

By Jennifer Chiou

New York, March 12 - Morgan Stanley plans to price Equity LinKed Securities due April 27, 2011 linked to the common stock of SanDisk Corp., according to an FWP with the Securities and Exchange Commission.

The coupon will be 8% to 10%, payable monthly, with the exact rate to be set at pricing.

The payout at maturity will be par unless SanDisk stock falls by 25% or more during the life of the notes, in which case investors will receive a number of SanDisk shares equal to par of $10 divided by the initial share price or, at the holder's option, the equivalent value in cash.

The ELKS will price on March 25 and settle on March 30.

Morgan Stanley & Co. Inc. is the underwriter.

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