Morgan Stanley to price 8%-9% ELKS linked to Southwestern Energy

By Angela McDaniels

Tacoma, Wash., Nov. 4 - Morgan Stanley plans to price Equity LinKed Securities due May 2011 linked to the common stock of Southwestern Energy Co., according to an FWP filing with the Securities and Exchange Commission.

The six-month notes will carry an annualized coupon of 8% to 9% that will be set at pricing. Interest will be payable monthly.

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

The notes (Cusip 61759G521) will price and settle in November.

Morgan Stanley & Co. Inc. is the agent.

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