Published on 1/29/2004 in the Prospect News Convertibles Daily.
New Issue: Morgan Stanley prices $5.5 million 1% notes exchangeable for FedEx
New York, Jan. 29 - Morgan Stanley priced $5.5 million of 1.0% seven-year notes exchangeable for FedEx Corp. common stock, according to a filing with the Securities and Exchange Commission.
FedEx stock closed at $69.63 on Jan. 23, the pricing date.
| Issuer: | Morgan Stanley
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| Issue: | Exchangeable senior medium-term notes
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| Underlying stock: | FedEx Corp.
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| Amount: | $5.5 million
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| Maturity: | Jan. 30, 2011
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| Coupon: | 1%
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| Price: | Par
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| Exchange ratio: | 11.22 in cash or stock at Morgan Stanley's option, automatic exchange at maturity if value greater than par
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| Call: | Jan. 30, 2005 onwards at 105, declining to 101 on Feb. 1, 2009, subject to automatic exchange for stock or cash if value is higher than par
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| Pricing date: | Jan. 23
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| Settlement date: | Jan. 28
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| Underwriter: | Morgan Stanley
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| Listing: | "FXC.A" on American Stock Exchange
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