Morgan Stanley plans 0% PLUS notes linked to Russell 2000

By E. Janene Geiss

Philadelphia, Nov. 26 - Morgan Stanley plans to price 0% Performance Leveraged Upside Securities (PLUS) due Jan. 20, 2009 linked to the Russell 2000, according to an FWP filing with the Securities and Exchange Commission.

The notes are expected to price in December.

The payout at maturity will be par of $10.00 plus any positive return on the index times an upside leverage factor of 300%, up to a maximum that will be determined at pricing and expected to be between $12.10 and $12.50 per note. Investors will participate fully in any loss.

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

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

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