Morgan Stanley plans 9.5% Sparqs exchangeable for Sunoco

By Angela McDaniels

Seattle, Feb. 22 - Morgan Stanley plans to price an issue of 9.5% Sparqs (Stock Participation Accreting Redemption Quarterly-pay Securities) mandatorily exchangeable for Sunoco Inc. common stock, according to an FWP filing with the Securities and Exchange Commission.

The senior medium-term series F notes will be exchanged for stock at maturity at a 1 to 1 ratio.

The Sparqs will mature on April 20, 2007 and will be callable after Oct. 20, 2006.

The yield to call will be set at pricing in the area of 18% to 22%.

Morgan Stanley will be underwriter.

The securities are expected to be listed on the American Stock Exchange under the symbol "SSK."

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