By Laura Lutz
Des Moines, Dec. 18 - Morgan Stanley priced a $4.5 million issue of 0% Bear Market Performance Leveraged Upside Securities (PLUS) due Jan. 21, 2009 inversely linked to shares of the Financial Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.
If the final share price is less than the initial price, the payout at maturity will be par of $10 plus four times the absolute value of the share price decline, subject to a maximum return of $13.50.
Otherwise, investors will lose 1% for each 1% gain, subject to a minimum payout of $2.00 per $10 PLUS.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Bear Market Performance Leveraged Upside Securities (PLUS)
|
| Underlying shares: | Financial Select Sector SPDR fund
|
| Amount: | $4.5 million
|
| Maturity: | Jan. 21, 2009
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final share price is less than initial price, par plus four times absolute value of the share price decline; otherwise, investors lose 1% for each 1% that shares increase; floor of $2.00; ceiling of $13.50
|
| Initial share price: | $29.45
|
| Pricing date: | Dec. 14
|
| Settlement date: | Dec. 21
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 0.6%
|
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