-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, QNtAGavIQUi0QUyPq8Rvx6FqpFnf1ryC1UsUk9dp/XUwCRXIeuWy3zNmzv1tc/AZ ml/KU4SVTZraMLC1LJkP8A== 0000950103-07-002192.txt : 20070830 0000950103-07-002192.hdr.sgml : 20070830 20070830154334 ACCESSION NUMBER: 0000950103-07-002192 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20070830 DATE AS OF CHANGE: 20070830 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MORGAN STANLEY CENTRAL INDEX KEY: 0000895421 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] IRS NUMBER: 363145972 STATE OF INCORPORATION: DE FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-131266 FILM NUMBER: 071091249 BUSINESS ADDRESS: STREET 1: 1585 BROADWAY CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 212-761-4000 MAIL ADDRESS: STREET 1: 1585 BROADWAY CITY: NEW YORK STATE: NY ZIP: 10036 FORMER COMPANY: FORMER CONFORMED NAME: MORGAN STANLEY DEAN WITTER & CO DATE OF NAME CHANGE: 19980326 FORMER COMPANY: FORMER CONFORMED NAME: DEAN WITTER DISCOVER & CO DATE OF NAME CHANGE: 19960315 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: MORGAN STANLEY CENTRAL INDEX KEY: 0000895421 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] IRS NUMBER: 363145972 STATE OF INCORPORATION: DE FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 1585 BROADWAY CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 212-761-4000 MAIL ADDRESS: STREET 1: 1585 BROADWAY CITY: NEW YORK STATE: NY ZIP: 10036 FORMER COMPANY: FORMER CONFORMED NAME: MORGAN STANLEY DEAN WITTER & CO DATE OF NAME CHANGE: 19980326 FORMER COMPANY: FORMER CONFORMED NAME: DEAN WITTER DISCOVER & CO DATE OF NAME CHANGE: 19960315 FWP 1 dp06767_fwp-ps378.htm
 
Filed pursuant to Rule 433
August 28, 2007 Relating to
Pricing Supplement No. 378 dated August 28, 2007 to
Registration Statement No. 333-131266

 
GLOBAL MEDIUM-TERM NOTES, SERIES F
Fixed Rate Senior Notes Due 2012
 
Issuer:
Morgan Stanley
   
Principal Amount:
$1,250,000,000
   
Maturity Date:
August 31, 2012
   
Trade Date:
August 28, 2007
   
Original Issue Date (Settlement):
August 31, 2007
   
Interest Accrual Date:
August 31, 2007
   
Issue Price (Price to Public):
99.994%
   
Agent’s Commission:
0.35%
   
All-in Price:
99.644%
   
Net Proceeds to Issuer:
$1,245,550,000
   
Interest Rate:
5.750% per annum
   
Interest Payment Period:
Semi-annual
   
Interest Payment Dates:
Each February 28 and August 31, beginning February 28, 2008
   
Day Count Convention:
30/360
   
Optional Make-Whole Redemption:
None
   
Specified Currency:
U.S. Dollar (“$”)
   
Minimum Denomination:
$100,000 and integral multiples of $1,000 in excess thereof
   
Business Day:
New York
   
CUSIP:
617446V89
   
ISIN:
US617446V896
   
Issuer Ratings:
Aa3/AA-/AA-
   
Agents:
Morgan Stanley & Co. Incorporated and such other agents as shall be named in the above-referenced Pricing Supplement
   
Global Settlement:
Through The Depository Trust Company, Euroclear or Clearstream, Luxembourg

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 1-866-718-1649.
 

 

 GRAPHIC 2 logo.jpg GRAPHIC begin 644 logo.jpg M_]C_X``02D9)1@`!``$`8`!@``#__@`?3$5!1"!496-H;F]L;V=I97,@26YC M+B!6,2XP,0#_VP"$``("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(" M`@("`@,#`@(#`@("`P0#`P,#!`0$`@,$!`0$!`,$!`,!`@("`@("`@("`@," M`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,# M`P,#`P,#`__$`:(```$%`0$!`0$!```````````!`@,$!08'"`D*"P$``P$! M`0$!`0$!`0````````$"`P0%!@<("0H+$``"`0,#`@0#!04$!````7T!`@,` M!!$%$B$Q008346$'(G$4,H&1H0@C0K'!%5+1\"0S8G*""0H6%Q@9&B4F)R@I M*C0U-CH.$A8:' MB(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7 MV-G:X>+CY.7FY^CIZO'R\_3U]O?X^?H1``(!`@0$`P0'!00$``$"=P`!`@,1 M!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:)BH*#A(6& MAXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3U-76 MU]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_``!$(`"D`[`,!$0`"$0$#$0'_V@`, M`P$``A$#$0`_`/M/XT_'WXQ^`?CSXLL=$UB.3X7?#BU^'7B?QAH,FCZ)+=/X M:UR_\.Z7K/V"_?3'U"4K]M+F)@8Y[:[A2XMY8W`^>-X)8W5NX?CBI:Y=-@V/SH_:Y_:`^+?@ M3QCJND_";Q#I^DZ5X!\%Z/K_`(Z>31M'U6=-2\5>*;/1-$LQ)JVGW2Q7/V>[ MBN5AC\HF(R.20@%(#]$-!GFNM%TF[G;=/1I[]O;:,D$G(QR0".,')_G^8&WE84G:.G&0..P/%^[UYQ0`@E7@#'4@8(QD8S M@]^O;GVH`@!0>G;C..1_2@!"V MW/RL`#U`SD?*\TCPCX:LI)H'O9+&+/VF_E MGM[D1I)&XRL:F,^<"*4-+WY4@L<;J/AW]L3X;:=>>+K;XJ^&/C&FEE]0U+P' M?>!K#PO-J.GQ+/+>0:'J6E%I$U!8,M#&61':,JRNVV,JUO(-CZ/^$'Q5\.?& M;P%I/COPUYT=CJ,EU9WEC<)Y=WI>JV$_V;4-.NPN5$T,PX=&VNC(Z'#BD!Y1 M\`OBIXS\?^._C_H'B=K#^R_AQ\0G\-^'$M;`6DZ::MQKH`O9Q(QO)VBLK0@[ M5P,^M`'U3G:/IC]?P_I0`T.,E1U'89XS^'N/SH`4G:,XP!UR=N,^]``&';@= MOZ_SH`:S8&,,.O3C:=N[.>W^/%`'Q[X'\8^*KW]LCXS>"+SQ!J%SX4T7P!X; MU71_#LTY;3]/O[JW\,&ZN[2`@A)':^G+8(!\\\<"@#[#R$7H0!V&>!U_(4!M MY6%+`<>F1CGJ/H#0`FX`A<%>0!U'ITX%`#B<#_ZQ[_0<"@!GF+_>1?3+@`^I M'J,Y&?8T`?G;KW@^'Q_^T_\`M-^"I5"CQ-^S[IVEP.V0(KRZMO#4=C M&\6WE5@$+ZZTF.TN5F=I!*NF0:?(2V,B0$<&HG:^@MO(^&/B&TWBC]GS] MJWXP.1+9?$CXR>'++PQ=J-OVKPAX+\5Z1HVBW&UG)0,SWL7RX5OLJMM!YJ`/ MT$^)GQ4B^#_P%D\?RK#<7^F^%=$CT>QG*JFI:]J5M9V6EVA161C&;JX6:41D M$06T[#&W(+=`/$?#'[.WQ/\`&WAJ+QS\2_CG\4='^)^M6CZO:6O@SQ(VD^$/ M"+WJ+=6.EV_AB"W\F_$,7V:*YC62))&5PCOG>P!Z#^S9\6/$WB9O&GPK^*5U M!-\6OA=K$^G:Y/;V*V=IKGAZ:0)H'B&$Q_N99[A%/G;$B!W0R^6JW*`&WD!\ MW:/X[^.WC3XN?M!?!GX?^)]6L=2?Q[)-;>--:9M4T/X<>`K*36;'4K71[>56 M:#7;ZYFTV"TABC4@6MU*+B*1$F0`];^)OC#QE^SC\,/A_P#"WPAXFO\`XB_& M;Q[K\V@^%M>\8+)>37-Q>ZTLVJZMJ?GWDHBM[*/5[*UMXI9W7YE=CY4$S(`= M#8_LZ?$33--MO$]K\??B;<_%F*TCO&FUK6X]1^&EWK)M\S:9>^"TL51O#3SE MXE"2).D;+(C+(`H`(?V-_&7CKQGX6^*.H_$/5[G4O$5A\7?$^CS0BXN)]-T: M*QL]),FDZ(EU+)]GTNVO)KM(47[R*C\^8,`&7#\,?CQ\9=?\77OQ9\=>+/A) MX2TO6;VP\#^%/A;KEGI.H:AIL$[-#KVLZW8F\DO5EC%OY<3.C;A(6AB5E4@? M@2_#/5_B+\*_C[_PHKQ9XXU'X@>#_$?@F\\8^!M;\2_9YO%NFMIE\;2ZTC4= M1@BC_M%6BMKN1I)4W';$T;`,Z1@&%^T/XX^+VB?M$_!SPG\+-3#W'B;PKXJV M^'=4U"2R\)W6IQ6^J"UU?Q#'$#)(K_3M3N=/'PXU<6\L3:II2>$(K6*"U MT]HIIA#NF+8B3>=Q,D9MIM8#[2^'OB8>,_`G@WQ>$2'_`(2?POX?\0-#'PD$ MFLZ19ZC+`.3_`*N6Y>,@G(*%6^930&WR/CS]H?PQX\^''Q=\'?M+?#WPS<>, M;/1]`F\)_$?PY9QR7>L2>'7GDD&IZ3;1L97FCMYY%9D5BK6D+.-DDK':+5N7 M;MT&>M?#3]J[X(_%"X.E:3XG&A^(01')X8\8P#PYJJ3-%N>WC^V$VEW.-Q0I M;74Y/!QM(K.2Y7;L(]9UWP#I\_@S6/"'@VZD^&O]HQDVNJ^!K6PT:]TFY-Q: MW$MY80PP);I/8E\!_%J"' M6;2&_M!:_$)K>_UTO<>*;::%M\DWV>6.1K?R@P<@',8"`'V1\;H/C=K=UX0\ M&_":YM?"VE:_=WA\;?$:9K&XN_#&DV21NEEHVG3,TG]J:E^^BANA#*L+A<[? MO``^=_BOX*^)'[-'@RX^+/@/XT?$WQC#X"1'4,[[LI@@'T-\>O%]_:?LZ^-/''A34M0T*_;P9:Z M[H6I0/\`9=0T_P#M!]/F@ER-P@G6"ZVMG<$+-Z4!^!XIX%^'WQO^-7A#POXC M^(WQ5\8?#CP]<>$_#,WA_P`._#76;>T\2:D9=$MY[CQ1XN\4_8+B2YO]2F9; MM=,BQ';1S+$Q1V;>;>0?@=E^S5XW\<'Q9\8O@K\0==D\5:O\)-7TB/1O%%RE MLFI:OX8\0VUW'Q M[Z9'PS\(*.@(5K7PB6`/4`E5S]!19KI9`=%\;?'?C_Q'\6?!G[//PM\20>$= M2U[P_?>,/'GB^&WAN]6\.^%K6XDLH;328I1(MIJU[(K^7*8Q)'YMO*C1JQD4 MLUTM8#D?B+\$OB5\)_!NK?$+X1_&_P"+&M>)_">GW6O77A[XA>(!XN\/^);+ M3('NKZR;2)+*-H9I+9)F'EN,[`JF-F#@M;I:P;;$WQ@^*?BKQ#^S?X"_:'^& M&M:AID_AJ_\`#7C#Q%HUE/5@V\K'V=!XBTV?PU%XJ$Z?V/-H2>(EN.%1=+ET\:BDY!P0#:G?DX[^ ME`?@?)7[-5KXW^)GPZN?B/XI\=^-($\;>+O%&N>&=.AUBY2+2/"@OQINE:;% M$=QAB273KQT1F8[)U;)W4`-\%A_^&Z/C%NVA?^%0^%PF">%\_P`*D`CCG);\ M_>@#S;7/'$/P$US]LC0[F]-A=:WI-I\5?`5KD@7>H^-+`^%]1EM=S*)+F/Q5 M-I$92+<O!A^'?[`NG^$9(3%<:/I?PY%]'\A*ZM?^)]&U/5W ME((_>?VE=WBEU+;BW0!N-*7QKY_DP)OVYHG7]G/X6W,L4TVE67C#P+/K,5I5D`#AB&A;&!DG:6D8=+7`ZS]EJ*/_A*)!'O(W",2EL+G&%4GG@0`WXURV=G^UY^RQ=ZPT$.EM8?$ M*TL9+HXA;79M,,5E%&6&U;J2^FTM8NXVDCD%<8)&<$#TZ M]#U&1S0!\+_L>:G9:-X-^/VJ7\WD6.E_';XE:C>3!<^1:V5GIEU<2@,,$QQ1 M2'H1E"O6@#E/AW=?'/\`:Q@U'QK<^/\`5O@Q\)QJ6K:7X5TKX?\`EV'BSQ-% M8WD:+J^I:S?PW$MHBQ)]G8PR(IFBE3R2J!V`_`KZ%\--.^%W[9?PMTBQ\1>, M_%./$%QXBUF2XWZS;D+<3I&MG:^7;QYABC1"YW8W%L`'9?% M7_D]G]FS[X"^#_'8.T94#^RM=RV0<;07'3WK3:GVU`]N_:D.W]GCXO\`OX(U M=1]6C45@OC?]=1]#;_9Y_P"2$_![M_Q;7P9[8_XI^PJQ;?([>+QOX2N/%-SX M'MO$6CR^,;+3O[7O/#45_;R:Q9Z86@07MU8Q2F2"`F[MB"^TLMQ&PRK`D`\L M^+'[-OPF^,5E>KXG\+65MKL]K)!9^+=(@AT[Q)ITCK,4ECOHXP+L*\S$PW:S MQ,'<%03NH`\!_8L\7^.8K_XN?!/QQJQ\1S_!SQ!;Z?I7B":XO;JXFM[VZUG3 MIM/-Q?2-+):V\NAO+"LF9(Q?R1LSK&A4`D_8_0CXK?M?2;C@_&*9-O(5?+U; MQ@2P/3)O$_B_58OM2 M^#?#MO(((9K.W,4\#ZC<>5=X$\$F&FLP%`F,D(!X=^TO\`+[PM\"OB'XM\5? M'#XQ^/\`5-,T_3[B#3-:\10VWA.2ZFUW3+1?,\,6-LL0AVW;?NC,40NKJH*` M4!MY6/>OC01_PQAX@(SM'P@\/.,C#;1INAMR,G#8]^O>JAI)>0;?(]R^#(V_ M!_X5#^[\-_`P_+POI8/ZBHJ=5Y_F"^X^:?@@1_PUO^USV(@^&`]@JZ'>+6LM M*=+_``K\D!5^'FU?V[OCX<'(^&O@_:0,``VOA+.3V)./R-6U^[@O^`"T^1XK MXM\(?$3Q5^W3X^T_P3\0;GX;:Z/AQI-_IVMII=KJ?VSP^EAX4M;O2X8+^WDA M6)M5\V8R1@MNMI5W!BP!HHJZT0]MNA[GJ/P`_:4O]/O]/N_VIM3N+6_L;FQF MMY/!F@+%+%=HT$\K1^(+*\TSQ=I=QJ$]U*]Q''F0PO;3W_RM\QS$&P#\HB3] MY]$+;Y'R1H_Q0\1Z/^P_XF\-2S13^/O#VNZE^SZMH_$\5W?ZS'X?MX9$FE63 M[1%X9U!PC,!F6R^481B)#;R/T5^'?A&U\`^!/"'@JSQY'A?P]I6BJZG(EDL; M2*&>?=M7M1?MI?%K7Y]&UBWT&Y^%WAJQL= M]NXV\-/)96>HO%]FN;F/[/,S1QR%P$;*X4D`'G?[6GPAO/'?QQ_9 MNU*QTC5KS3[G69M'\7WVGZ=>W=I8:#HVNZ'K\`U2[M862P@F:?4D5YI(EW-O M!W1*T8&WD>I_MN:)K6O_`+._BK2=`TC5==U*YU?P>8=,T;3[K4]1N(X?%.F7 M%PT=E91/+)'%!&\LA1?DCCD8]K=)YRQJYD:1W./$,MO/;7"3:@?MEOX:@CN=LMOI^FR7-PBQLL;>8TNY%"HL=-O3RV\@ MV^1QO[-GA_7=&^*G[4=[J^CZGI=KKWQ-M]0TBXO[*[M;?5++S/$3-=6,]U:Q M)>0_Z5&-]N73@?-SR@/1OVAO@JGQ@\-:3_9.J+X;\=^"]5C\2>!?$P21Y-+U M6W,4C6SK%EC9W;06P<*CLLEO!*JL8O+E`/F#PK^TG^TEXO\`$&E?"!_@[/X* M\57LTNEZI\4]3T?Q3-X4TJUM8&%WX@MM$N?#]JIU&0KYL%OY@AP M=(QCRIAL;_[%_A2&^^%7QT\&ZY&=5O2%@N]1CGT?1]+O=0<8 M81WEUYDEQU<"28G)R=RG%1M96#;RL>'>%/BO\:?V2(]9^":?"7Q!\4=)TW7M M4N?`_B.SMO$6G63:;J%V7$`,7AB\34('NS<79^S.@5KRZ57;:DBP!WUKI'QS MT[]HCX&?&+QAI]SXAD\<:?JGAW7-!TK1->M=+^%&EZMYL5KI8GEL&=$A@O(K MR:;4_LTLERUQN!C\ME`V/7_B;HNOW'[8O[/>MV6C:SFWD MFD64MWIVN1PVUYJ$436]O-*S0E$ED1FW#:3N&7=VMT[!MY6/8_VE]/O]4^`O MQ3T[2M/O-4U&]\)W]M::=86T]W>7E2DD[VU` MW/@387FE?!;X4Z=?VEQ87UC\/?"-K>65W!+:W5IP M&KW.F>,;O2[2ZE4P_P!H1Z0OAH3K:PRGS&\VZD"[/F#@E0`?77[-_P`#Y?@W MX%&ALE$\ADFBMKBXO93+(D+22WUR MQCC4)'&!M\CY4\">)/'_`,"?VIOB7X'_`.$#UGQ-X6^,WQ*TO6(?%-G9:K:V M.@PZ_?7]VM_+>'2);6_@MK?5+F.9%D@59--4^>5:15`V\K'H7[1^F>*O@Y\5 M?#/[3_P]\*S>-)O[$;P)X[\)V-KJT][?:5=2&2UUBVGTVRNA9/#Y-O#*\R+& M&L;7&3/,"`>3>-/&_P`=?VM?A?\`$73].\":A\*?!VA:2=4_LBZTSQ%K'B3X MA:GI\MO?6OAZSNVT6PA2P#1M+O&/[#M\M[ MX1U?3_%][\,HM+N/"*:=J;:M#=:3<1:4(AIDEHM\L\\6G1S^2T1=?M!&7"AF M%IMI8-O(^E_@_!V\]G>V?P_P#!MI>6=U"]O=6MU;^'=.AN(+B" M15>&5)D<%'5&!&"H((H>N_\`D&WR/GCX-:%K=A^U-^U1K%[HNK6&E:L/AM'I M.IW=A=V^FZJ(-&NQ<-IU[-;I%>>5)\DGD.^PN`QSBG=V2Z1T72P;>5CQ'XG> M+?'_`,!OVM?$7C_2?AYJGCSP[\2_"WAC1)!IUGK,$=CY!TFR:9M6MM+NK=;F MWN-,=FM@C[X[A=TD;*=SYI))7T6R#;;0]Q_:5\`^,=/U?P[^T'\)FF;XC_#J MRDTJ[\/1:3>:JOC7P=>W0EN]"GL]/26>22.2YNW4QP@A99'62&6VBE"YFE;9 M+H!X'-^U3^T-\6EC^''A#X&ZS\.M:\1[-(O/'&J6WBS4K#PU9ZAY=M>ZU!'% MX8L_L;VR7$FV6>5T0KDL&`91-K;0-O*Q^CG@SP_=>%/".A>'=0U[5?%-YI&E MPVE[X@UN<7.J:Q<*I:XO+J0@#,DC/LC.[9&$C+/LW,OP`_-?Q#\.HI/V^-+\ M(6UQ=P>#-:;1OCAK/AZWENTTB7Q1HNE:]''J%U:12"%KAM9LQ.9W`RVJRQ-E M9`C`'ZHJ"`!G.._3/O[4!MY6#`&.`,/3J>YH#;RL+M4?P@<@]`.0<@_4'F@-O(` MJKT4+]`!Z_XG\S0&WE8``.@`Z]..IR?UYH#;RLBV$6HO%(J'4];:ZEAL[!&7=).!@1YR4)P*5 MM->7^O0>WR/1?V8?A?XA^%WPYFLO&+6C>+_%7BG7?'?B2&RD,]KI^K>(#;HU MC#<'_6RP65I:QRRKP\OG,I*L`'-K2VR%Z:'T94`(`!P!@>@XZT`&!V`[]AWY M/YDG\Z`%QV].<>F#D?K0`=.G'Z4`)@=,#'I]>O'OG]:`V\K``!T`'T&/;^5` M"%5P5*C#`AE(&"",$$'J"*`%P.F..PH`"!P"!P00"!P1T(]Z`#:HQ@`8``X` MP!R`/09H```.@`QZ`#&H)^4=1C!/'7Y5_P"^1Z4`+M4=@#]`/4C] M2?SH`\C^+/Q@T;X06.F7FK>&O''B0ZM)?065IX'\-77B*Y6:RMH[@QW<=K,G MV,3>8J12-D,V5Z@T!MY'D_P*\!>*-;\<^+OVA_B1I,V@>+/&=C!X=\(>$KD* MMQX.^'UB\4MC!?H)G*:WJ$BK/*,#;RL?6@X&.>/6@!:`"@`H M`*`"@`H`*`*]S_J_^!K_`#H`E/W3_GL*`*UG_JD_ZYI_6@"Y0`4`%`!0`4`% L`!0`4`%`!0`4`%`!0`4`%`!0`4`-/_LR_P`Q0!!;_<7_`'IO_1M`%F@#_]D_ ` end -----END PRIVACY-ENHANCED MESSAGE-----