Published on 1/17/2008 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $10.65 million PLUS notes linked to four commodities
By E. Janene Geiss
Philadelphia, Jan. 17 - Morgan Stanley priced $10.65 million of 0% Performance Leveraged Upside Securities (PLUS) due Feb. 23, 2009 linked to a basket of four commodities, according to an FWP filing with the Securities and Exchange Commission.
The basket consists of equal weights (25%) cotton No. 2, soybeans, soybean meal and wheat.
The payout at maturity will be par plus triple of any index gain, subject to a maximum return on the notes of 133%. Investors will be fully exposed to any index decline.
Morgan Stanley & Co. Inc. is the agent.
Issuer: | Morgan Stanley
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Issue: | Performance Leveraged Upside Securities (PLUS)
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Underlying assets: | Equal weights of cotton No. 2, soybeans, soybean meal and wheat
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Amount: | $10.65 million
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Maturity: | Feb. 23, 2009
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus triple of any index gain, subject to 133% cap; full exposure to any index decline
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Initial prices: | 71.69 for cotton; 1,301.50 for soybeans; 356.10 for soybean meal; and 932 for wheat
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Pricing date: | Jan. 15
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Settlement date: | Jan. 23
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Agent: | Morgan Stanley & Co. Inc.
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Fees: | 1%
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