By E. Janene Geiss
Philadelphia, April 28 - Morgan Stanley priced $52 million of 9.5% Equity LinKed Securities due Oct. 25, 2010 based on the performance of Weatherford International Ltd. 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 Weatherford stock falls by 20% or more during the life of the notes, in which case investors will receive a number of Weatherford 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: | Weatherford International Ltd. (NYSE: WFT)
|
| Amount: | $52 million
|
| Maturity: | Oct. 25, 2010
|
| Coupon: | 9.5%, payable monthly
|
| Price: | Par of $10.00
|
| Payout at maturity: | If Weatherford stock falls to or below the trigger price of $14.632 during the life of the notes, 0.54675 Weatherford shares per security; otherwise, par
|
| Initial share price: | $18.29
|
| Trigger price: | $14.632, or 80% of initial price
|
| Pricing date: | April 26
|
| Settlement date: | April 29
|
| Underwriter: | Morgan Stanley & Co. Inc.
|
| Fees: | 1.5%
|
| Cusip: | 617484472
|
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