Morgan Stanley plans 12.5% RevCons linked to Southwestern Energy

By Jennifer Chiou

New York, Feb. 5 - Morgan Stanley plans to issue 12.5% reverse convertible securities (RevCons) due Feb. 22, 2008 linked to Southwestern Energy Co. stock, according to an FWP filing with the Securities and Exchange Commission.

The notes will price on Feb. 16 and settle on Feb. 22.

The payout at maturity will be par in cash unless Southwestern Energy stock finishes below the initial share price and falls below the 70% trigger level during the life of the notes, in which case the payout will be a number of Southwestern Energy shares equal to $1,000 principal amount divided by the initial share price.

Morgan Stanley will be the agent.

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