New Issue: Morgan Stanley sells $2.08 million 21% RevCons linked to Coca-Cola

By Susanna Moon

Chicago, Jan. 27 - Morgan Stanley priced $2.08 million of 21% annualized reverse convertible securities due July 28, 2009 linked to the common stock of Coca-Cola Enterprises Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest is payable monthly.

Payout at maturity will be par unless Coca-Cola stock falls below the trigger price - 70% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Coca-Cola shares equal to $1,000 divided by the initial share price or, at Morgan Stanley's option, the value of those shares in cash.

Morgan Stanley & Co. Inc. is the agent.

Issuer:	Morgan Stanley
Issue:	Reverse convertible securities
Underlying stock:	Coca-Cola Enterprises Inc. (Symbol: CCE)
Amount:	$2,084,000
Maturity:	July 28, 2009
Coupon:	21%, payable monthly
Price:	Par
Payout at maturity:	If the stock falls below trigger price during life of notes and final share price is less than initial share price, 86.35579 Coca-Cola shares or equivalent cash value; otherwise, par
Initial share price:	$11.58
Trigger price:	$8.106, or 70% of initial share price
Pricing date:	Jan. 23
Settlement date:	Jan. 28
Agent:	Morgan Stanley & Co. Inc.
Fees:	1.5%

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