Published on 12/7/2007 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $5 million 0% Trigger PLUS notes liked to 10 commodities
By Jennifer Chiou
New York, Dec. 7 - Morgan Stanley priced a $5 million offering of 0% Trigger Performance Leveraged Upside Securities (PLUS) due Dec. 12, 2011 linked to a basket of 10 commodities, according to an FWP filing with the Securities and Exchange Commission.
The basket consists of copper weighted at 12.5%, soybeans weighted at 12.5%, sugar weighted at 12.5%, aluminum weighted at 10%, natural gas weighted at 10%, nickel weighted at 10%, WTI crude oil weighted at 10%, gold weighted at 7.5%, platinum weighted at 7.5% and wheat weighted at 7.5%.
The payout at maturity will be par plus any basket gain times the upside leverage factor of 110%.
If the final basket level is less than or equal to the initial basket level, the payout will be par unless the basket falls by more than 25% during the life of the notes, in which case investors will be exposed to any basket decline.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Trigger Performance Leveraged Upside Securities (PLUS)
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| Underlying commodities: | Copper (12.5% weight), soybeans (12.5% weight), sugar (12.5% weight), aluminum (10% weight), natural gas (10% weight), nickel (10% weight), WTI crude oil (10% weight), gold (7.5% weight), platinum (7.5% weight), wheat (7.5% weight)
|
| Amount: | $5 million
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| Maturity: | Dec. 12, 2011
|
| Coupon: | 0%
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| Price: | Par
|
| Payout at maturity: | Par plus any basket gain times the upside leverage factor of 110%; if the final basket level is less than or equal to the initial basket level, par unless the basket falls by more than 25% during the life of the notes, in which case investors will be exposed to any basket decline
|
| Pricing date: | Dec. 5
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| Settlement date: | Dec. 12
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| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 2%
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