By Susanna Moon
Chicago, Aug. 13 - Morgan Stanley priced an $8.275 million issue of 12.35% reverse convertible securities (RevCons) due Feb. 15, 2008 linked to the common stock of Sunoco Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the stock falls below the trigger price of $53.96, or 80% of the initial share price, during the life of the notes and finishes below its initial share price, in which case the payout will be a number of Sunoco shares equal to $1,000 divided by the initial share price or, at Morgan Stanley's option, the equivalent cash value.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Reverse convertible securities (RevCons)
|
| Underlying stock: | Sunoco Inc. (NYSE: SUN)
|
| Amount: | $8.275 million
|
| Maturity: | Feb. 15, 2008
|
| Coupon: | 12.35%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If the stock falls below the trigger price during the life of the notes and finishes below the initial share price, 14.8258 Sunoco shares or the equivalent cash value; otherwise, par
|
| Initial share price: | $67.45
|
| Trigger price: | $53.96, 80% of initial share price
|
| Pricing date: | Aug. 10
|
| Settlement date: | Aug. 15
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 2.25%
|
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