By Jennifer Chiou
New York, June 14 - Morgan Stanley priced $10.3 million of 12.5% annualized Equity LinKed Securities due Dec. 13, 2010 linked to the common stock of Freeport-McMoRan Copper & Gold Inc., 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 Freeport-McMoRan stock closes at or below 75% of its initial share price on any during the life of the notes, in which case the payout will be a number of Freeport-McMoRan 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: | Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX)
|
| Amount: | $10.3 million
|
| Maturity: | Dec. 13, 2010
|
| Coupon: | 12.5%, payable monthly
|
| Price: | Par of $10
|
| Payout at maturity: | If Freeport-McMoRan stock closes at or below downside threshold price during life of notes, 0.15538 Freeport-McMoRan shares or value thereof in cash; otherwise, par
|
| Initial share price: | $64.36
|
| Downside threshold price: | $48.27, 75% of initial price
|
| Pricing date: | June 10
|
| Settlement date: | June 15
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 1.5%
|
| Cusip: | 61759G836
|
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