Published on 2/24/2010 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $63.79 million 10% ELKS linked to Wells Fargo
By Jennifer Chiou
New York, Feb. 24 - Morgan Stanley priced $63.79 million of 10% annualized Equity LinKed Securities due Aug. 27, 2010 linked to the common stock of Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
If Wells Fargo stock falls to or below the downside threshold price during the life of the notes, the payout at maturity will be a number of Wells Fargo shares equal to par of $10.00 divided by the initial share price. Otherwise, the payout will be par.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Equity LinKed Securities
|
| Underlying stock: | Wells Fargo & Co. (Symbol: WFC)
|
| Amount: | $63,785,730
|
| Maturity: | Aug. 27, 2010
|
| Coupon: | 10%, payable monthly
|
| Price: | Par of $10.00
|
| Payout at maturity: | If Wells Fargo stock falls to or below the downside threshold price during the life of the notes, 0.35702 Wells Fargo shares; otherwise, par
|
| Initial share price: | $28.01
|
| Downside threshold price: $22.408, 80% of initial price
|
| Pricing date: | Feb. 22
|
| Settlement date: | Feb. 26
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 1.5%
|
| Cusip: | 617484720
|
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