By Laura Lutz
Des Moines, April 25 - Morgan Stanley priced $2.42 million of 12% annualized RevCons due Oct. 28, 2008 linked to shares of the Market Vectors - Russia ETF, according to an FWP filing with the Securities and Exchange Commission.
If the shares stay at or above the protection price, 75% of the initial price, during the life of the notes and finish at or above their initial price, the payout at maturity will be a number of shares equal to par divided by the initial price.
Otherwise, the payout will be par.
Morgan Stanley & Co. Inc. is the agent.
Issuer: | Morgan Stanley
|
Issue: | RevCons
|
Underlying stock: | Market Vectors - Russia ETF
|
Amount: | $2.42 million
|
Maturity: | Oct. 28, 2008
|
Coupon: | 12%
|
Price: | Par
|
Payout at maturity: | If stock stays at or above 75% of initial price during life of notes and finishes at or above initial price, Diamond Offshore shares equal to par divided by initial price; otherwise, par
|
Initial price: | $51.52
|
Protection price: | $38.64, 75% of initial price
|
Exchange ratio: | 19.40994
|
Pricing date: | April 23
|
Settlement date: | April 28
|
Agent: | Morgan Stanley & Co. Inc.
|
Fees: | 1.5%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.