Published on 2/28/2003 in the Prospect News Convertibles Daily.
New Issue: Morgan Stanley sells $24.75 million 7% Sparqs exchangeable for Newmont stock
New York, Feb. 28 - Morgan Stanley issued $24.75 million of Sparqs (Stock Participation Accreting Redemption Quarterly-pay Securities) mandatorily exchangeable for the common stock of Newmont Mining Corp., according to a filing with the Securities and Exchange Commission.
| New Issue: | Morgan Stanley
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| Issue: | Sparqs (Stock Participation Accreting Redemption Quarterly-pay Securities) senior medium-term notes
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| Amount: | $24.75 million
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| Maturity: | March 15, 2004
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| Coupon: | 7% payable quarterly
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| Price: | Par of $13.75 (Half closing price of Newmont Mining Corp. on day of pricing)
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| Exchange ratio: | 0.5, at maturity
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| Call: | Aug. 28, 2003 onwards at price to give yield to call of 30%
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| Pricing date: | Feb. 21
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| Settlement: | Feb. 28
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| Listing: | "NMQ" on American Stock Exchange
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| Underwriter: | Morgan Stanley
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