Published on 8/15/2002 in the Prospect News Convertibles Daily.
New Issue: Morgan Stanley sells $27.4 million 7.125% SPARQS exchangeable for Intel
New York, Aug. 15 - Morgan Stanley priced $27.4 million of 7.125% SPARQS (Stock Participation Accreting Redemption Quarterly-pay Securities) due 2004 mandatorily exchangeable for Intel Corp. common stock, according to a filing with the Securities and Exchange Commission.
| Issuer: | Morgan Stanley
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| Issue: | SPARQS (Stock Participation Accreting Redemption Quarterly-pay Securities) senior fixed-rate medium-term notes
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| Underwriter: | Morgan Stanley
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| Amount: | $27,377,010
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| Maturity: | Feb. 15, 2004
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| Coupon: | 7.125% payable quarterly
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| Price: | Par of $18.38 (closing price of Intel Corp. stock on pricing date)
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| Call: | Aug. 16, 2003 onwards at price to give yield to call of 31.25%
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| Exchange ratio: | 1 (at maturity)
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| Pricing date: | Aug. 8
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| Settlement: | Aug. 15 flat
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| Listing: | "SQK" on American Stock Exchange
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| Cusip: | 61744Y330
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