Published on 11/26/2007 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $5.9 million 23% RevCons linked to Goldman Sachs
By Susanna Moon
Chicago, Nov. 26 - Morgan Stanley priced $5.9 million of 23% RevCons due Feb. 28, 2008 linked to Goldman Sachs Group, Inc. stock, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly.
Payout at maturity will be par unless Goldman Sachs stock falls below the protection price - 80% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Goldman Sachs shares equal to $1,000 divided by the initial share price.
Morgan Stanley & Co. Inc. is the agent.
Issuer: | Morgan Stanley
|
Issue: | RevCons
|
Underlying stock: | Goldman Sachs Group, Inc. (NYSE: GS)
|
Amount: | $5.9 million
|
Maturity: | Feb. 28, 2008
|
Coupon: | 23%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par unless Goldman Sachs falls below the protection price of $10.224 during the life of the notes and finishes below the initial share price, in which case 4.61936 Goldman shares
|
Initial share price: | $216.48
|
Protection price: | $173.184, or 80% of the initial share price
|
Pricing date: | Nov. 23
|
Settlement date: | Nov. 28
|
Agent: | Morgan Stanley & Co. Inc.
|
Fees: | 0.75%
|
© 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.