Morgan Stanley plans six-month 13.5% RevCons linked to Wynn Resorts

By Jennifer Chiou

New York, May 31 - Morgan Stanley plans to price 13.5% annualized reverse convertible securities due Dec. 29, 2011 linked to the common stock of Wynn Resorts Ltd., according to an FWP with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless Wynn Resorts stock falls by 20% or more during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Wynn Resorts shares equal to par divided by the initial share price or, at the issuer's option, the value of those shares in cash.

The notes (Cusip: 617482UV4) will price on June 24 and settle on June 29.

Morgan Stanley & Co. Inc. is the agent.

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