Morgan Stanley to price 13.25% HITS exchangeable for SanDisk

By Jennifer Chiou

New York, Feb. 9 - Morgan Stanley is planning to price an issue of 13.25% HITS (High Income Trigger Securities) due March 20, 2007 that are exchangeable for SanDisk Corp. stock, according to an FWP filing with the Securities and Exchange Commission.

The global medium-term series F notes will be priced at par of $10.00.

Interest will be payable quarterly.

Payout at maturity will be based on the performance of SanDisk stock up to and including March 16, 2007, the determination date. If the stock price has not decreased below the trigger level, to be between 65% and 75% of the initial share price, investors will receive par. If the stock price has dropped below the trigger price, investors will collect SanDisk shares at the specified exchange ratio.

Morgan Stanley said it will apply to list the notes as "SHM" on the American Stock Exchange.

Morgan Stanley will be the underwriter.

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