Published on 5/28/2004 in the Prospect News Convertibles Daily.
New Issue: Morgan Stanley prices $19.10 million 10% Sparqs exchangeable for JetBlue
New York, May 28 - Morgan Stanley priced $19.10 million of 10% Sparqs (Stock Participation Accreting Redemption Quarterly-pay Securities) that are mandatorily exchangeable for the common stock of JetBlue Airways Corp., according to a 424B3 filing with the Securities and Exchange Commission.
Issuer: | Morgan Stanley
|
Issue: | Sparqs (Stock Participation Accreting Redemption Quarterly-pay Securities) senior medium-term notes
|
Underlying stock: | JetBlue Airways Corp.
|
Amount: | $19.103 million
|
Maturity: | June 15, 2005
|
Coupon: | 10%, payable quarterly
|
Price: | Par of $14.15 (equal to half of closing price of JetBlue stock on pricing date)
|
Exchange ratio: | 0.5 (mandatory, at maturity)
|
Call: | Nov. 30, 2004 onwards at price to give yield to call of 34%
|
Pricing date: | May 21
|
Settlement date: | May 28
|
Underwriter: | Morgan Stanley
|
Listing: | "JTM" 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.