By Susanna Moon
Chicago, Jan. 25 - Morgan Stanley priced $3.25 million of 11.5% annualized RevCons due July 29, 2008 linked to Baker Hughes Inc. common stock, 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 closes below the trigger level - 80% of the initial share price - during the life of the notes and finishes below the initial share price, in which case investors will receive a number of Baker Hughes shares equal to $1,000 divided by the initial share price.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | RevCons
|
| Underlying stock: | Baker Hughes Inc. (NYSE: BHI)
|
| Amount: | $3.25 million
|
| Maturity: | July 29, 2008
|
| Coupon: | 11.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If the stock closes below the trigger level during the life of the notes and finishes below the initial share price, 13.85617 Baker Hughes shares
|
| Initial price: | $72.17
|
| Trigger price: | $57.736, 80% of initial price
|
| Pricing date: | Jan. 24
|
| Settlement date: | Jan. 29
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 1.5%
|
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