Published on 12/7/2005 in the Prospect News Convertibles Daily.
New Issue: Morgan Stanley prices $31.52 million 20% Perqs exchangeable for WellPoint
New York, Dec. 7 - Morgan Stanley priced $31.52 million of 20% Perqs (Performance Equity-linked Redemption Quarterly-pay Securities) that are mandatorily exchangeable for WellPoint, Inc. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
At maturity, the Perqs are exchanged for one share of WellPoint stock, capped at a value of $67.90, 87.25% of the original principal amount.
| Issuer: | Morgan Stanley
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| Issue: | Perqs (Performance Equity-linked Redemption Quarterly-pay Securities) senior medium-term notes
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| Underlying stock: | WellPoint, Inc.
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| Amount: | $31.517 million
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| Maturity: | Dec. 14, 2006
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| Coupon: | 20%, payable monthly
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| Price: | Par of $77.82
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| Exchange ratio: | 1 (mandatory, at maturity), capped at $67.90, 87.25% of initial price
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| Call: | Non-callable
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| Pricing date: | Dec. 6
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| Settlement date: | Dec. 13
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| Underwriter: | Morgan Stanley
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