By Angela McDaniels
Tacoma, Wash., March 26 - Morgan Stanley priced $5 million of 0% Performance Leveraged Upside Securities (PLUS) due June 20, 2009 linked to shares of the iShares MSCI Taiwan index fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the final share price is greater than the initial share price, the payout at maturity will be par of $10.00 plus 300% of the gain, subject to a maximum return of 21%. Investors will be fully exposed to any share price decline.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Performance Leveraged Upside Securities (PLUS)
|
| Underlying ETF: | iShares MSCI Taiwan index fund
|
| Amount: | $5 million
|
| Maturity: | June 20, 2009
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus 3% for each 1% share price gain, capped at maximum payout equal to 121% of par; full exposure to any share price decline
|
| Initial share price: | $17.27
|
| Pricing date: | March 24
|
| Settlement date: | March 31
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 1.5%
|
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