By Laura Lutz
Des Moines, May 1 - Morgan Stanley priced an $11.792 million issue of 0% return enhanced notes due May 7, 2008 linked to the S&P 500 index via JPMorgan Chase Bank NA and J.P. Morgan Securities Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any positive return on the index, subject to a maximum return of 15%.
Investors will participate fully in any losses.
The final index level will be the average of the index's closing levels on April 29, April 30, May 1, May 2 and May 5 of 2008.
| Issuer: | Morgan Stanley
|
| Issue: | Return enhanced notes
|
| Underlying index: | S&P 500
|
| Amount: | $11.792 million
|
| Maturity: | May 7, 2008
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double any index gain, capped at 15%; investors will participate fully in any losses
|
| Initial index level: | 1,494.07
|
| Pricing date: | April 27
|
| Settlement date: | May 2
|
| Agents: | JPMorgan Chase Bank NA and J.P. Morgan Securities Inc.
|
| Agent fees: | 1%
|
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