New Issue: Morgan Stanley sells $12.153 million capital-protected notes linked to currencies basket

By Jennifer Chiou

New York, June 26 - Morgan Stanley priced a $12.153 million issue of zero-coupon capital-protected notes due June 29, 2010 linked to a basket of seven currencies, according to an FWP filing with the Securities and Exchange Commission.

The underlying basket includes equal weights of the Australian dollar, British pound, Canadian dollar, Danish krone, euro, New Zealand dollar and Norwegian krone, all relative to the dollar.

If the basket gains, at maturity investors will receive par plus 330% of any gain on the basket. Investors will receive at least par.

Morgan Stanley & Co. Inc. is the agent.

Issuer:	Morgan Stanley
Issue:	Capital-protected notes
Underlying currencies:	Equal weights of the Australian dollar, British pound, Canadian dollar, Danish krone, euro, New Zealand dollar and Norwegian krone, all relative to the dollar
Amount:	$12.153 million
Maturity:	June 29, 2010
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 330% of any gain on the basket; investors will receive at least par
Initial exchange rates:	Australian dollar at 0.845, British pound at 1.9957, Canadian dollar at 1.0673, Danish krone at 5.54235, euro at 1.34285, New Zealand dollar at 0.76675 and Norwegian krone at 5.94175
Pricing date:	June 22
Settlement date:	June 29
Agent:	Morgan Stanley & Co. Inc.
Fees:	2.5%

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