New Issue: Morgan Stanley prices $5.97 million 7% Sparqs exchangeable for Devon Energy

New York, June 1 - Morgan Stanley priced $5.97 million of one-year 7% Sparqs (Stock Participation Accreting Redemption Quarterly-pay Securities) that are mandatorily exchangeable for the common stock of Devon Energy Corp., according to a 424B3 filing with the Securities and Exchange Commission.

Devon Energy, based in Oklahoma City, is an independent oil and gas producer.

Issuer:	Morgan Stanley
Issue:	Sparqs (Stock Participation Accreting Redemption Quarterly-pay Securities) senior medium-term notes, series F
Underlying stock:	Devon Energy Corp.
Amount:	$5.967 million
Maturity:	July 15, 2006
Coupon:	7%, payable quarterly
Price:	Par of $44.20 (equal to the closing price of Devon Energy stock on pricing date)
Exchange ratio:	1 (mandatory, at maturity)
Call:	Nov. 30, 2005 onwards at price to give yield to call of 16%
Pricing date:	May 23
Settlement date:	May 31
Underwriter:	Morgan Stanley

© 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.