Morgan Stanley plans to price 9%-11% ELKS linked to Wells Fargo

By Angela McDaniels

Tacoma, Wash., Feb. 10 - Morgan Stanley plans to price Equity LinKed Securities due Aug. 27, 2010 linked to the common stock of Wells Fargo & Co., according to an FWP filing with the Securities and Exchange Commission.

The six-month notes will carry an annualized coupon of 9% to 11%. Interest will be payable monthly.

If the closing price of Wells Fargo stock remains above 80% of the initial share price throughout the life of the notes, the payout at maturity will be par of $10. Otherwise, the payout will be a number of Wells Fargo shares equal to $10 divided by the initial share price or, at Morgan Stanley's option, the value of those shares in cash.

The notes will price Feb. 22 and settle Feb. 25.

Morgan Stanley & Co. Inc. is the agent.

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