Morgan Stanley to sell 8%-11% ELKS due 2010 linked to JPMorgan

By Susanna Moon

Chicago, Dec. 4 - Morgan Stanley plans to price Equity LinKed Securities June 29, 2010 linked to the common stock of JPMorgan Chase & Co., according to an FWP filing with the Securities and Exchange Commission.

The coupon will be 8% to 11%, payable at maturity, with the exact rate to be set at pricing.

The payout at maturity will be par unless JPMorgan stock falls by 25% or more during the life of the notes, in which case investors will receive a number of JPMorgan shares equal to par of $10 divided by the initial share price or, at the holder's option, the equivalent value in cash.

The ELKS will price on Dec. 23 and settle on Dec. 29.

Morgan Stanley & Co. Inc. is the underwriter.

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