Morgan Stanley to price six-month 7%-9% ELKS linked to Baker Hughes

By Toni Weeks

San Diego, Jan. 31 - Morgan Stanley plans to price 6% to 8% annualized Equity LinKed Securities due Aug. 25, 2011 based on the performance of Baker Hughes Inc. shares, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact coupon will be set at pricing.

The payout at maturity will be par of $10 unless Baker Hughes stock closes at or below the threshold price - 80% of the initial share price - during the life of the notes, in which case the payout will be a number of Baker Hughes shares equal to $10 divided by the initial share price or, at the issuer's option, the value of those shares in cash.

The notes (Cusip: 61759G281) will price Feb. 22 and settle Feb. 25.

Morgan Stanley & Co. is the agent.

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