Published on 11/30/2004 in the Prospect News Convertibles Daily.
New Issue: Morgan Stanley prices $44.78 million 10% Sparqs exchangeable for Nvidia
New York, Nov. 30 - Morgan Stanley priced $44.78 million of one-year 10% Sparqs (Stock Participation Accreting Redemption Quarterly-pay Securities) that are mandatorily exchangeable for the common stock of Nvidia Corp., according to a 424B3 filing with the Securities and Exchange Commission.
Issuer: | Morgan Stanley
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Issue: | Sparqs (Stock Participation Accreting Redemption Quarterly-pay Securities) senior medium-term notes
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Underlying stock: | Nvidia Corp.
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Amount: | $44.781 million
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Maturity: | Dec. 1, 2005
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Coupon: | 10%, payable quarterly
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Price: | Par of $19.47 (equal to closing price of Nvidia stock on pricing date)
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Exchange ratio: | 1 (mandatory, at maturity)
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Call: | June 1, 2005 onwards at price to give yield to call of 30%
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Pricing date: | Nov. 22
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Settlement date: | Nov. 30
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Underwriter: | Morgan Stanley
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Listing: | "SND" on American Stock Exchange
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