Published on 4/27/2011 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $42 million six-month 9% ELKS tied to Halliburton
By Marisa Wong
Madison, Wis., April 27 - Morgan Stanley priced $42 million of 9% annualized Equity LinKed Securities due Oct. 25, 2011 linked to Halliburton Co. shares, 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 Halliburton shares close at or below the threshold price - 80% of the initial share price - during the life of the notes, in which case the payout will be a number of Halliburton 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: | Halliburton, Co. (NYSE: HAL)
|
| Amount: | $42 million
|
| Maturity: | Oct. 25, 2011
|
| Coupon: | 9% per year, payable monthly
|
| Price: | Par of $10
|
| Payout at maturity: | If Halliburton stock closes at or below downside threshold price during life of notes, 0.19751 Halliburton shares or value thereof in cash; otherwise, par
|
| Initial share price: | $50.63
|
| Downside threshold price: | $40.504, 80% of initial price
|
| Pricing date: | April 25
|
| Settlement date: | April 28
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 1.5%
|
| Cusip: | 61760E861
|
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