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Morgan Stanley to price RevCons linked to Amazon.com
By Jennifer Chiou
New York, Oct. 15 - Morgan Stanley plans to price 15% to 16% reverse convertible securities (RevCons) due Jan. 29, 2008 linked to Amazon.com, Inc. common stock, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless the stock closes below the trigger level - 80% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Amazon.com shares equal to $1,000 divided by the initial share price.
The notes will price on Oct. 24 and settle on Oct. 29.
Morgan Stanley & Co. Inc. will be the agent.
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