MORGAN STANLEY ISSUES WARRANTS INTO JAPANESE FIRM
Morgan Stanley (Jersey) Ltd is issuing
45,000 covered equity warrants exercisable into shares of Japan
Synthetic Rubber Co Ltd at an issue price of 212 Swiss francs
per warrant, lead manager Morgan Stanley SA said.
    The initial exercise price is 494 yen per share and
maturity is February 4, 1992. The issue price represents a
premium of 6.57 pct over the stock's closing price of 653 yen.
    Each warrant is exercisable into 100 shares of common stock
of Japan Synthetic Rubber.
    The exercise period is June 5, 1987 to February 4, 1992.
 REUTER
