By E. Janene Geiss
Philadelphia, Oct. 28 - Morgan Stanley priced $1.93 million of 7% annualized Equity LinKed Securities due Oct. 29, 2012 linked to the common stock of Wells Fargo & Co. stock, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par of $10 unless Wells Fargo shares close at or below the threshold price -- 65% of the initial share price - during the life of the notes, in which case the payout will be a number of Wells Fargo shares equal to $10 divided by the initial share price or, at the issuer's option, the value of those shares in cash.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Equity LinKed Securities
|
| Underlying stock: | Wells Fargo & Co. (Symbol: WFC)
|
| Amount: | $1.93 million
|
| Maturity: | Oct. 29, 2012
|
| Coupon: | 7% per year, payable monthly
|
| Price: | Par of $10.00
|
| Payout at maturity: | If Wells Fargo stock closes at or below downside threshold price of $16.7375 during life of notes, 0.38835 Wells Fargo shares or value in cash; otherwise, par
|
| Initial share price: | $25.75
|
| Downside threshold price: | $16.7375, or 65% of initial price
|
| Pricing date: | Oct. 27
|
| Settlement date: | Oct. 29
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 1.96875%
|
| Cusip: | 61759G471
|
© 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.
