New Issue: Morgan Stanley prices $10.265 million 0% notes linked to Russell 2000 via JPMorgan

By Angela McDaniels

Seattle, Feb. 6 - Morgan Stanley priced a $10.265 million issue of return enhanced notes due Feb. 13, 2008 linked to the Russell 2000 index via agents JPMorgan Chase Bank NA and J.P. Morgan Securities Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will par plus triple any positive return on the index, subject to a maximum total return of 19.32%.

Investors will be fully exposed to any decline in the index.

Issuer:	Morgan Stanley
Issue:	Return enhanced notes
Underlying index:	Russell 2000
Amount:	$10.265 million
Maturity:	Feb. 13, 2008
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus triple any index gain, capped at 19.32%; full participation in any index decline
Initial index value:	809.42
Pricing date:	Feb. 2
Settlement date:	Feb. 9
Agents:	JPMorgan Chase Bank NA and J.P. Morgan Securities
Agent fees:	1%

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