By E. Janene Geiss
Philadelphia, Jan. 28 - Morgan Stanley priced a $13, 399,973.82 issue of 12.5% Stock Participation Accreting Redemption Quarterly-pay Securities (Sparqs) due Feb. 20, 2009 linked to the common stock of Target Corp., according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly beginning May 20.
At maturity, investors will receive 0.25 of a Target share per Sparqs.
The notes are callable beginning Aug. 20, 2008 with a yield to call of 20%.
The Sparqs have been approved for listing on the American Stock Exchange under the symbol "MNM."
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Stock Participation Accreting Redemption Quarterly-pay Securities (Sparqs)
|
| Underlying stock: | Target Corp. (Symbol: TGT)
|
| Amount: | $13,399,973.82
|
| Maturity: | Feb. 20, 2009
|
| Coupon: | 12.5%, payable quarterly beginning May 20
|
| Price: | Par of $13.2525
|
| Payout at maturity: | 0.25 of Target share per Sparqs
|
| Call: | Beginning Aug. 20, 2008 with a yield to call of 20%
|
| Pricing date: | Jan. 24
|
| Settlement date: | Jan. 31
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 1.625%
|
| Listing: | "MNM" on American Stock Exchange
|
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