No. You are talking apples and oranges here.
MIDI messages are binary data. Audio is an analogue signal. There is no such thing as a simple MIDI to audio conversion.
thanks a lotTo expand on Happyrat's answer, if you read this 15 minute article I think you'll then understand why the MIDI OUT doesn't connect to the audio, or as you called it, the normal 1/4" out:
http://tweakheadz.com/how_to_get_started_with_midi.html
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