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Morgan Stanley to price 8% to 10% ELKS linked to Halliburton stock
By Jennifer Chiou
New York, Sept. 28 - Morgan Stanley plans to price 8% to 10% annualized Equity LinKed Securities due April 25, 2011 linked to Halliburton Co. shares, according to an FWP with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par in cash unless Halliburton shares fall below the protection price, 80% of the initial price, during the life of the notes and finish below the initial price, in which case the payout will be shares of Halliburton stock equal to $10 divided by the initial price.
The securities (Cusip: 61759G380) will price on Oct. 25 and settle on Oct. 28.
Morgan Stanley & Co. Inc. is the agent.
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