Morgan Stanley to price 8% Sparqs linked to Weatherford

By Angela McDaniels

Seattle, Aug. 27 - Morgan Stanley plans to price an offering of 8% Stock Participation Accreting Redemption Quarterly-pay Securities (Sparqs) due Oct. 20, 2008 linked to the common stock of Weatherford International Ltd., according to an FWP filing with the Securities and Exchange Commission.

The securities will price at the closing price of one share of Weatherford common stock on the pricing date, which will be in September.

Interest will be payable quarterly.

The payout at maturity will be one share of Weatherford stock per Sparqs.

The securities will be callable beginning April 20, 2008. The yield to call will be set at pricing and is expected to be 16% to 18%.

Morgan Stanley said it will apply to list the Sparqs on the American Stock Exchange under the symbol "FWT."

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

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