Morgan Stanley to price six-month 8%-10% ELKS linked to Amazon stock

By Marisa Wong

Madison, Wis., July 2 - Morgan Stanley plans to price 8% to 10% annualized Equity LinKed Securities due Jan. 25, 2011 based on the common stock of Amazon.com, Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

If the stock's closing price remains above 80% of the initial share price throughout the life of the notes, the payout at maturity will be par of $10. Otherwise, the payout will be a number of Amazon shares equal to $10 divided by the initial share price or, at Morgan Stanley's option, the cash equivalent.

The notes will price on July 26 and settle on July 29.

Morgan Stanley & Co. Inc. is the agent.

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