By Angela McDaniels
Tacoma, Wash., May 26 - Morgan Stanley priced $27.1 million of 12.5% annualized Equity LinKed Securities due Nov. 23, 2010 linked to the common stock of Bank of America Corp., according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par of $10 unless Bank of America stock closes at or below 80% of its initial share price on any during the life of the notes, in which case the payout will be a number of Bank of America shares equal to $10 divided by the initial share price or, at the issuer's option, a cash amount equal to the value of those shares.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Equity LinKed Securities
|
| Underlying stock: | Bank of America Corp. (NYSE: BAC)
|
| Amount: | $27.1 million
|
| Maturity: | Nov. 23, 2010
|
| Coupon: | 12.5%, payable monthly
|
| Price: | Par of $10.00
|
| Payout at maturity: | If Bank of America stock closes at or below downside threshold price during life of notes, 0.64935 Bank of America shares or value thereof in cash; otherwise, par
|
| Initial share price: | $15.40
|
| Downside threshold price: | $12.32, 80% of initial price
|
| Pricing date: | May 24
|
| Settlement date: | May 27
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 1.5%
|
| Cusip: | 61759G703
|
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