Morgan Stanley to price 0% outperformance PLUS notes linked to S&P 100, Russell 2000

By Jennifer Chiou

New York, Oct. 24 - Morgan Stanley plans to price 0% outperformance Performance Leveraged Upside Securities (PLUS) due Dec. 20, 2008 linked to the performance of the S&P 100 index relative to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus triple the amount, if any, by which the S&P 100 return exceeds the Russell 2000 return. Investors will lose 1% for each 1% the Russell 2000 return exceeds the S&P 100 return.

For each $10.00 principal amount of notes, the payout will have a cap of between $11.80 and $12.00.

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

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