Morgan Stanley to price 12% Sparqs linked to Arch Coal

By Susanna Moon

Chicago, July 25 - Morgan Stanley plans to price an issue of 12% Stock Participation Accreting Redemption Quarterly-pay Securities (Sparqs) due Sept. 20, 2008 linked to Arch Coal, Inc. common stock, according to an FWP filing with the Securities and Exchange Commission.

At maturity, investors will receive one Arch Coal share per Sparqs.

The Sparqs are callable beginning March 20, 2008 with a yield to call of 17% to 19% per year with the exact value to be set at pricing.

The Sparqs have been approved for listing on the American Stock Exchange under the symbol "AGX."

The notes will price and settle in August.

Morgan Stanley & Co. Inc. is the agent.

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