Published on 1/14/2008 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.9 million of 17% RevCons linked to Gap
By Laura Lutz
Des Moines, Jan. 14 - Morgan Stanley priced $1.9 million of 17% RevCons due July 16, 2008 linked to The Gap, Inc. common stock, according to an FWP filing with the Securities and Exchange Commission.
If Gap stock closes below the trigger level - 80% of the initial share price - during the life of the notes and finishes below the initial share price, the payout will be a number of Gap shares equal to $1,000 divided by the initial share price.
Otherwise, the payout will be par.
Morgan Stanley & Co. Inc. is the agent.
Issuer: | Morgan Stanley
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Issue: | RevCons
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Underlying stock: | The Gap, Inc. (Symbol: GPS)
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Amount: | $1.9 million
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Maturity: | July 16, 2008
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Coupon: | 17%
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Price: | Par
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Payout at maturity: | If the stock closes below the trigger level - 80% of the initial share price - during the life of the notes and finishes below the initial share price, a number of Gap shares equal to par divided by initial price; otherwise, par
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Initial price: | $17.20
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Trigger price: | $13.76, 80% of initial price
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Exchange ratio: | 58.13953
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Pricing date: | Jan. 11
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Settlement date: | Jan. 16
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Agent: | Morgan Stanley & Co. Inc.
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Fees: | 1.5%
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