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Morgan Stanley to issue RevCons linked to Coach
By Laura Lutz
Des Moines, Sept. 14 - Morgan Stanley plans to price RevCons due March 26, 2008 linked to Coach, Inc. stock, according to an FWP filing with the Securities and Exchange Commission.
The notes will bear interest at between 13% and 14% per year. Interest will be payable quarterly.
Payout at maturity will be par in cash if Coach stock stays at or above the protection price, 80% of the initial price, during the life of the notes and finishes at or above the initial price. Otherwise, the payout will be in Coach stock, with the number of shares equal to $1,000 divided by the initial share price.
The notes are expected to price on Sept. 21 and settle on Sept. 26.
Morgan Stanley & Co. Inc. will be the agent.
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