New Issue: Morgan Stanley prices $5.35 million PLUS linked to S&P 500

By Susanna Moon

Chicago, June 24 - Morgan Stanley priced $5.35 million of 0% Performance Leveraged Upside Securities due July 20, 2009 linked to the S&P 500 Index, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par of $10 plus triple any gain on the index, capped at a payout of $11.75 per note, or 117.5% of par. Investors will be exposed to any losses.

Morgan Stanley & Co. Inc. is the agent.

Issuer:	Morgan Stanley
Issue:	Performance Leveraged Upside Securities
Underlying index:	S&P 500
Amount:	$5,352,000
Maturity:	July 20, 2009
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus triple any gain on the index, capped at $11.75 per note; exposure to losses
Initial level:	1,913.31
Pricing date:	June 23
Settlement date:	June 30
Agent:	Morgan Stanley & Co. Inc.
Fees:	1.5%

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