By Angela McDaniels
Tacoma, Wash., Nov. 26 - Morgan Stanley priced $10.6 million of 10% Stock Participation Accreting Redemption Quarterly-pay Securities (Sparqs) due Dec. 20, 2008 linked to the common stock of Schlumberger NV, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly.
At maturity, investors will receive one Schlumberger share per Sparqs.
The Sparqs are callable beginning June 20, 2008 with a yield to call of 19%.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Stock Participation Accreting Redemption Quarterly-pay Securities (Sparqs)
|
| Underlying stock: | Schlumberger NV (Symbol: SLB)
|
| Amount: | $10,559,142
|
| Maturity: | Dec. 20, 2008
|
| Coupon: | 10%, payable quarterly
|
| Price: | Par of $94.11
|
| Payout at maturity: | One Schlumberger share per Sparqs
|
| Call: | June 20, 2008 onward to give yield to call of 19%
|
| Pricing date: | Nov. 23
|
| Settlement date: | Nov. 30
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 1.625%
|
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