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Prospect News home > News index > List of issuers C > Headlines for ConocoPhillips Co. > News item
Published on 6/4/2008 in the Prospect News Structured Products Daily.

Morgan Stanley plans 9% Sparqs exchangeable for ConocoPhillips

By Jennifer Chiou

New York, June 4 - Morgan Stanley plans to price 9% Stock Participation Accreting Redemption Quarterly-pay Securities (Sparqs) due Sept. 20, 2009 mandatorily exchangeable for ConocoPhillips stock, according to an FWP filing with the Securities and Exchange Commission.

At maturity, investors will receive one share of ConocoPhillips stock for each Sparq.

The Sparqs will be callable after Dec. 20, 2008 with a yield to call of 15% to 16%. The exact yield to call will be set at pricing.

The Sparqs are expected to price and settle in June.

Morgan Stanley & Co. Inc. is the agent.


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