E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 4/28/2003 in the Prospect News Convertibles Daily.

New Issue: Morgan Stanley sells $39.039 6% Sparqs exchangeable for Kohl's

New York, April 28 - Morgan Stanley issued $39.039 million 6% Sparqs (Stock Participation Accreting Redemption Quarterly-pay Securities) mandatorily exchangeable for Kohl's Corp. common stock, according to a filing with the Securities and Exchange Commission.

Issuer:Morgan Stanley
Issue:Sparqs (Stock Participation Accreting Redemption Quarterly-pay Securities) mandatorily exchangeable senior medium-term notes
Amount:$39.039 million
Maturity:May 1, 2004
Coupon:6%, payable quarterly
Price:Par of $29.575 (half of Kohl's closing price on pricing date)
Payout at maturity:0.5 shares of Kohl's Corp. common stock
Call:Oct. 28, 2003 at price to give yield to call of 24%
Underwriter:Morgan Stanley
Pricing date:April 21
Settlement:April 28
Listing:"KOY" on American Stock Exchange

© 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.