FWP 1 dp03178_fwp.htm

     Filed pursuant to Rule 433
Registration Statement No. 333-131266
Relating to Preliminary Pricing Supplement No.75
dated June 26, 2006


GLOBAL MEDIUM-TERM NOTES, SERIES F
Senior Fixed Rate Notes
Pricing Sheet – July 24, 2006

8% SPARQS due August 20, 2007
Mandatorily Exchangeable for Shares of Common Stock of
Genentech, Inc.
Stock Participation Accreting Redemption Quarterly-pay SecuritiesSM
(“SPARQS®”)

Offering Price : $8.037 per SPARQS
   
Exchange Ratio : .10 share of DNA Stock per SPARQS
     
Yield to Call : 16%
   
Interest Rate : 8% per year
   
Interest Payment Dates : November 20, 2006, February 20, 2007, May 20, 2007 and the Maturity Date
     
Aggregate Principal Amount : $12,000,004.515
   
Pricing Date : July 24, 2006
   
Original Issue Date (Settlement Date) : July 31, 2006
   
Listing : AMEX
   
Exchange Symbol : DGK
     
CUSIP : 61747S868
   
Agent : Morgan Stanley & Co. Incorporated
   
Agent’s Commissions : $0.1306 per SPARQS

  The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-584-6837.
   
 

Preliminary Pricing Supplement No. 75 dated June 26, 2006
Prospectus Supplement for SPARQS dated January 25, 2006
Prospectus dated January 25, 2006