Published on 8/17/2004 in the Prospect News Convertibles Daily.
New Issue: Morgan Stanley prices $50.72 million 5.58% Perqs exchangeable for IBM
New York, Aug. 17 - Morgan Stanley priced $50.72 million of 5.58% Perqs (Performance Equity-linked Redemption Quarterly-pay Securities) that are mandatorily exchangeable for International Business Machines Corp. common stock, according to a 424B3 filing with the Securities and Exchange Commission.
| Issuer: | Morgan Stanley
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| Issue: | Perqs (Performance Equity-linked Redemption Quarterly-pay Securities) senior medium-term notes
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| Underlying stock: | International Business Machines Corp.
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| Amount: | $50.715 million
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| Maturity: | Aug. 17, 2005
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| Coupon: | 5.58%, payable monthly
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| Price: | Par of $84.61 (IBM stock closed at $84.99 on pricing date)
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| Exchange ratio: | 1 (mandatory, at maturity), capped at $93.07, 10% above issue price
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| Call: | Non-callable
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| Pricing date: | Aug. 10
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| Settlement date: | Aug. 17
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| Underwriter: | Morgan Stanley
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