By Susanna Moon
Chicago, Jan. 25 - Morgan Stanley priced $1.35 million of 16% annualized RevCons due July 29, 2008 linked to Southern Copper Corp. common stock, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the stock closes below the trigger level - 70% of the initial share price - during the life of the notes and finishes below the initial share price, in which case investors will receive a number of Southern Copper shares equal to $1,000 divided by the initial share price.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | RevCons
|
| Underlying stock: | Southern Copper Corp. (NYSE: PCU)
|
| Amount: | $1.35 million
|
| Maturity: | July 29, 2008
|
| Coupon: | 16%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If the stock closes below the trigger level during the life of the notes and finishes below the initial share price, 11.76609 Southern Copper shares
|
| Initial price: | $84.99
|
| Trigger price: | $59.493, 70% of initial price
|
| Pricing date: | Jan. 24
|
| Settlement date: | Jan. 29
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 1.5%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
