Morgan Stanley to price 10.5% RevCons linked to Sunoco

By E. Janene Geiss

Philadelphia, June 4 - Morgan Stanley plans to price an offering of reverse convertible securities (RevCons) due Dec. 20, 2007 linked to the common stock of Sunoco, Inc., according to an FWP filing with the Securities and Exchange Commission.

The six-month notes will pay 5.25% for an annualized rate of 10.5%. Interest will be payable monthly.

The payout at maturity will be par unless Sunoco stock closes below the trigger price - 80% of the initial share price - during the life of the notes and closes below the initial share price on the final determination date, in which case the payout will be a number of Sunoco shares equal to $1,000 divided by the initial share price or, at Morgan Stanley's option, the equivalent cash value.

The notes will price June 15 and settle June 21.

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

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