By Susanna Moon
Chicago, Sept. 24 - Morgan Stanley priced a $17.4 million issue of 8% Stock Participation Accreting Redemption Quarterly-pay Securities (Sparqs) due Oct. 20, 2008 linked to the common stock of Weatherford International Ltd., according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly.
At maturity, investors will receive 0.25 of a Weatherford share per Sparqs.
The notes are callable beginning April 20, 2008 with a yield to call of 18%.
The Sparqs have been approved for listing on the American Stock Exchange under the symbol "FWT."
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Stock Participation Accreting Redemption Quarterly-pay Securities (Sparqs)
|
| Underlying stock: | Weatherford International Ltd. (NYSE: WFT)
|
| Amount: | $17,399,938
|
| Maturity: | Oct. 20, 2008
|
| Coupon: | 8%, payable quarterly
|
| Price: | Par of $8.5825
|
| Payout at maturity: | 0.25 of Weatherford share per Sparqs
|
| Call: | Beginning April 20, 2008 with a yield to call of 18%
|
| Pricing date: | Sept. 21
|
| Settlement date: | Sept. 28
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 1.625%
|
| Listing: | "FWT" on American Stock Exchange
|
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