Morgan Stanley plans six-month 8% to 10% ELKS linked to Halliburton

By Toni Weeks

San Diego, March 28 - Morgan Stanley plans to price 8% to 10% annualized Equity LinKed Securities due Oct. 25, 2011 based on the performance of Halliburton Co. shares, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact rate will be set at pricing.

The payout at maturity will be par of $10 unless Halliburton shares fall to or below 80% of the initial price during the life of the notes, in which case the payout will be a number of shares of Halliburton stock equal to $10 divided by the initial price or, at the issuer's option, a cash amount equal to the value of those shares.

The notes (Cusip: 61760E861) are expected to price April 25 and settle April 28.

Morgan Stanley & Co. Inc. is the agent.

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