By Susanna Moon
Chicago, July 27 - Morgan Stanley priced $25 million of six-month Libor and S&P 500 index-linked range accrual notes due July 29, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 10% per year, payable quarterly, for the first two years. After that, interest will accrue at 10% annually for each day that six-month Libor is between 0% and 7% and the S&P 500 index is at least 675.
The payout at maturity will be par.
The notes are callable at par on any interest payment date beginning Oct. 29, 2009.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Six-month Libor and S&P 500 index-linked range accrual notes
|
| Amount: | $25 million
|
| Maturity: | July 29, 2024
|
| Coupon: | 10% per year for two years; thereafter, 10% per year for each day that six-month Libor is less than 7% and the S&P 500 is at least 675; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates beginning Oct. 29, 2009
|
| Pricing date: | July 24
|
| Settlement date: | July 29
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 3%
|
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