Morgan Stanley to price 8%-11% ELKS linked to Weatherford stock

By Marisa Wong

Milwaukee, April 14 - Morgan Stanley plans to price Equity LinKed Securities due Oct. 25, 2010 based on the common stock of Weatherford International Ltd., according to an FWP filing with the Securities and Exchange Commission.

The coupon will be 8% to 11% per year, payable monthly. The exact rate will be set at pricing.

The payout at maturity will be par unless Weatherford stock falls by 20% or more during the life of the notes, in which case investors will receive a number of Weatherford shares equal to par of $10 divided by the initial share price or, at the issuer's option, the equivalent value in cash.

The ELKS will price on April 26 and settle on April 29.

Morgan Stanley & Co. Inc. is the underwriter.

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