Morgan Stanley to price 11% RevCons linked to Goldman Sachs

By E. Janene Geiss

Philadelphia, July 25 - Morgan Stanley plans to price an issue of reverse convertible securities (RevCons) due Feb. 15, 2008 linked to Goldman Sachs Group, Inc. common stock, according to an FWP filing with the Securities and Exchange Commission.

The six-month notes will pay 5.5% for an annualized rate of 11%. Interest will be payable monthly.

The payout at maturity will be par unless Goldman Sachs stock closes below the trigger price - 80% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Goldman Sachs shares equal to $1,000 divided by the initial share price.

The notes will price Aug. 10 and settle Aug. 15.

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

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