New Issue: Morgan Stanley prices $2.5 million 9.9% ELKS on S&P GSCI Brent Crude

By Jennifer Chiou

New York, Sept. 2 - Morgan Stanley priced $2.5 million of 9.9% annualized Equity LinKed Securities due April 13, 2011 linked to the S&P GSCI Brent Crude Index-Excess Return, according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless the index closes at or below 75% of its initial share price on any day during the life of the notes, in which case investors will be exposed to those losses.

Morgan Stanley & Co. Inc. is the agent.

Issuer:	Morgan Stanley
Issue:	Equity LinKed Securities
Underlying index:	S&P GSCI Brent Crude Index-Excess Return
Amount:	$2.5 million
Maturity:	April 13, 2011
Coupon:	9.9%, payable monthly
Price:	Par
Payout at maturity:	If the index closes at or below downside threshold price during life of notes, exposure to losses; otherwise, par
Initial level:	531.2411
Downside threshold:	398.430825, 75% of initial level
Pricing date:	Aug. 31
Settlement date:	Sept. 3
Agent:	Morgan Stanley & Co. Inc.
Fees:	0.9%
Cusip:	617482NF7

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