New Issue: Morgan Stanley prices $8.885 million 0% notes linked to four currencies

By Angela McDaniels

Seattle, Nov. 3 - Morgan Stanley priced a $8.885 million issue of 0% notes due May 15, 2009 linked to basket containing equal weights of the Australian dollar, Canadian dollar, euro, pound and yen, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be based upon the performance of each currency against the dollar.

Investors will receive par plus 147% of any positive return on the basket. The payout will be at least par.

Issuer:	Morgan Stanley
Issue:	Currency-linked notes
Underlying basket:	Australian dollar, Canadian dollar, euro, pound, yen, equally weighted
Amount:	$5.217 million
Maturity:	May 15, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 147% of any gain on the basket; floor of par
Initial exchange rates:	0.76935 dollars per Australian dollar, 1.12930 dollars per Canadian dollar, 1.27035 dollars per euro, 1.890065 dollars per pound, 118.056 dollars per yen
Pricing date:	Nov. 3
Settlement date:	Nov. 15
Agent:	Morgan Stanley & Co. Inc.
Agent fees:	200 basis points

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