Morgan Stanley to issue 14%-16% RevCons linked to Southern Copper

By Laura Lutz

Des Moines, Jan. 14 - Morgan Stanley plans to price an issue of RevCons due July 29, 2008 linked to Southern Copper Corp. stock, according to an FWP filing with the Securities and Exchange Commission.

The notes will bear interest at between 14% and 16% per year. Interest will be payable monthly.

Payout at maturity will be par in cash if Southern Copper stock stays at or above the protection price, 70% of the initial price, during the life of the notes or finishes at or above the initial price. Otherwise, the payout will be in Southern Copper stock, with the number of shares equal to par divided by the initial share price.

The notes are expected to price on Jan. 24 and settle on Jan. 29.

Morgan Stanley & Co. Inc. will be the agent.

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