By Toni Weeks
San Diego, Aug. 29 - Morgan Stanley priced $11.5 million of annualized 14.5% Equity LinKed Securities due Feb. 23, 2012 linked to the common stock of Baker Hughes Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par of $10 unless Baker Hughes stock falls by 20% or more during the life of the notes, in which case the payout will be a number of Baker Hughes shares equal to $10 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.
| Issuer: | Morgan Stanley
|
| Issue: | Equity LinKed Securities (ELKS)
|
| Underlying stock: | Baker Hughes Inc. (NYSE: BHI)
|
| Amount: | $11.5 million
|
| Maturity: | Feb. 23, 2012
|
| Coupon: | 12%, payable monthly
|
| Price: | Par of $10
|
| Payout at maturity: | If Baker Hughes stock falls to or below the downside threshold price during life of notes, 0.1843 of a Baker Hughes share or equivalent value in cash; otherwise, par
|
| Initial share price: | $54.26
|
| Threshold price: | $43.408, 80% of initial
|
| Pricing date: | Aug. 25
|
| Settlement date: | Aug. 30
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.5%
|
| Cusip: | 61760E192
|
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