By Susanna Moon
Chicago, March 29 - Morgan Stanley priced $3.05 million of 9% Equity LinKed Securities due April 27, 2011 based on the performance of SanDisk Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par of $10.00 unless SanDisk stock falls by 25% or more during the life of the notes, in which case investors will receive a number of SanDisk shares equal to $10.00 divided by the initial share price or, at the issuer's option, an equivalent amount in cash.
Morgan Stanley & Co. Inc. is the underwriter.
| Issuer: | Morgan Stanley
|
| Issue: | Equity LinKed Securities
|
| Underlying stock: | SanDisk Corp. (Nasdaq: SNDK)
|
| Amount: | $3.05 million
|
| Maturity: | April 27, 2011
|
| Coupon: | 9%, payable monthly
|
| Price: | Par of $10.00
|
| Payout at maturity: | If SanDisk stock falls to or below the trigger price of $26.2125 during the life of the notes, 0.3212 SanDisk shares per security; otherwise, par
|
| Initial share price: | $34.95
|
| Trigger price: | $26.2125, or 75% of initial price
|
| Pricing date: | March 25
|
| Settlement date: | March 30
|
| Underwriter: | Morgan Stanley & Co. Inc.
|
| Fees: | 2%
|
| Cusip: | 617484415
|
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