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Morgan Stanley plans six-month 12% RevCons linked to SanDisk shares
By Susanna Moon
Chicago, April 29 - Morgan Stanley plans to price 12% annualized reverse convertible securities due Nov. 29, 2011 linked to SanDisk Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless SanDisk stock falls by 20% or more during the life of the notes and finishes below the initial share price, in which case the payout will be a number of SanDisk shares equal to par divided by the initial share price or, at the issuer's option, the value of those shares in cash.
Morgan Stanley & Co. Inc. is the agent.
The notes will price on May 24 and settle on May 27.
The Cusip is 617482UB8.
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