Morgan Stanley to price 15%-19% RevCons linked to Disney

By E. Janene Geiss

Philadelphia, Dec. 24 - Morgan Stanley plans to price reverse convertible securities due July 28, 2009 linked to the common stock of Walt Disney Co., according to an FWP filing with the Securities and Exchange Commission.

Interest will be 15% to 19%, payable monthly, with the exact rate to be set at pricing.

Payout at maturity will be par unless Disney stock closes below the trigger price - 70% of the initial share price - during the life of the notes and finishes below the initial share price, in which case a number of Disney shares equal to $1,000 divided by the initial share price or, at Morgan Stanley's option, the equivalent cash value.

The notes will price on Jan. 23 and settle on Jan. 28.

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

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