Published on 3/26/2008 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $4.4 million Bear Market PLUS notes linked to Nasdaq 100
By Angela McDaniels
Tacoma, Wash., March 26 - Morgan Stanley priced $4.4 million of 0% Bear Market Performance Leveraged Upside Securities (PLUS) due April 20, 2009 linked to the Nasdaq 100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is less than the initial level, the payout at maturity will be par plus 4% for 1% decline in the index. Otherwise, the payout will be par minus 1% for each 1% index gain. For each $10.00 principal amount, the payout has a cap of $12.80 and a floor of $2.00.
Morgan Stanley & Co. Inc. is the agent.
Issuer: | Morgan Stanley
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Issue: | Bear Market Performance Leveraged Upside Securities (PLUS)
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Underlying index: | Nasdaq 100
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Amount: | $4.4 million
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Maturity: | April 20, 2009
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | Par plus 400% of the absolute value of any index decline, capped at maximum return of 28%; par minus 1% for each 1% index gain, capped at maximum loss of 80%
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Initial index level: | 1,814.4
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Pricing date: | March 24
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Settlement date: | March 31
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Agent: | Morgan Stanley & Co. Inc.
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Fees: | 1.5%
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