New Issue: Morgan Stanley sells $39 million 10% SPARQS exchangeable for Qualcomm

New York, May 29 - Morgan Stanley Dean Witter & Co. sold $39 million of 10% SPARQS mandatorily exchangeable for Qualcomm Inc. common stock, according to a filing with the Securities and Exchange Commission.

The securities were sold from Morgan Stanley's medium-term note program via underwriter Morgan Stanley, pricing on May 21. The syndicate also included Advest, Inc. and Legg Mason Wood Walker Inc.

Issuer:	Morgan Stanley Dean Witter & Co.
Issue:	SPARQS (Stock Participation Accreting Redemption Quarterly-pay Securities) mandatorily exchangeable senior notes
Amount:	$39,000,472
Price:	Par of $32.62 (equivalent to closing price of Qualcomm stock on pricing date)
Maturity:	Nov. 30, 2003
Coupon:	10%, payable quarterly beginning Aug. 30, 2002
Call:	May 30, 2003 onwards at price to give yield to call of 28%
Exchange ratio:	1 (at maturity only)
Settlement:	May 29
Listing:	"MQC" on American Stock Exchange
Cusip:	61744Y355

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