By Susanna Moon
Chicago, April 15 - Morgan Stanley priced $12.1 million of 13% RevCons due Oct. 16, 2008 linked to Deere & Co. common stock, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly.
If the stock falls below the protection price - 75% of the initial price - during the life of the notes and finishes below the initial price, the payout at maturity be a number of Deere 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: | Deere & Co. (Symbol: DE)
|
| Amount: | $12.1 million
|
| Maturity: | Oct. 16, 2008
|
| Coupon: | 13%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless Deere stock falls below protection price during life of notes and finishes below initial price, in which case 11.58614 Deere shares
|
| Initial price: | $86.31
|
| Protection price: | $64.7325, or 75% of initial price
|
| Pricing date: | April 11
|
| Settlement date: | April 16
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 1.5%
|
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