Morgan Stanley to price currency-linked securities linked to the euro

By Jennifer Chiou

New York, Dec. 26 - Morgan Stanley plans to price 0% currency-linked securities due July 30, 2009 linked to the euro, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 145% to 155% of any depreciation of the euro relative to the dollar. The exact participation rate will be determined at pricing. Investors will share in losses if the euro appreciates relative to the dollar, with a floor of 70% of par.

The notes are expected to price and settle in January.

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

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