By Marisa Wong
Madison, Wis., Aug. 23 - Morgan Stanley priced $3 million of 11.75% annualized Equity LinKed Securities due April 13, 2011 based on the common stock of JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par of $10 unless the price of JPMorgan stock closes at or below 75% of the initial share price on any day during the life of the notes, in which case the payout will be a number of JPMorgan shares equal to $10 divided by the initial share price or, at the issuer's option, a cash amount equal to the value of those shares.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Equity LinKed Securities
|
| Underlying stock: | JPMorgan Chase & Co. (Symbol: JPM)
|
| Amount: | $3 million
|
| Maturity: | April 13, 2011
|
| Coupon: | 11.75%, payable monthly
|
| Price: | Par of $10
|
| Payout at maturity: | If JPMorgan stock closes at or below downside threshold price during life of notes, 0.26976 JPMorgan shares or value thereof in cash; otherwise, par
|
| Initial share price: | $37.07
|
| Downside threshold price: | $27.8025, or 75% of initial price
|
| Pricing date: | Aug. 19
|
| Settlement date: | Aug. 24
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 0.9%
|
| Cusip: | 61759G737
|
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