By Toni Weeks
San Diego, Feb. 24 - Morgan Stanley priced $54 million of 7% annualized Equity LinKed Securities due Aug. 25, 2011 linked to the common stock of Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par of $10 unless Wells Fargo stock falls by 20% or more 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
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Issue: | Equity LinKed Securities
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Underlying stock: | Wells Fargo & Co. (Symbol: WFC)
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Amount: | $54 million
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Maturity: | Aug. 25, 2011
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Coupon: | 7%, payable monthly
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Price: | Par of $10.00
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Payout at maturity: | If Wells Fargo stock falls to or below downside threshold price during life of notes, 0.31867 Wells Fargo shares or value thereof in cash; otherwise, par
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Initial share price: | $31.38
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Threshold price: | $25.104, 80% of initial price
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Pricing date: | Feb. 22
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Settlement date: | Feb. 25
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Agent: | Morgan Stanley & Co. Inc.
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Fees: | 1.5%
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Cusip: | 61759G299
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