By Angela McDaniels
Seattle, March 6 - Morgan Stanley priced a $100 million offering of 0% Performance Leveraged Upside Securities (PLUS) due March 14, 2008 linked to the iShares MSCI Emerging Markets index fund, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any increase in the index fund share price, subject to a maximum return of 23.2%.
If the final share price declines by less than 10%, the payout will be par.
If the final share price declines by 10% or more, the payout will be par minus the share price decline, plus $100 per $1,000 principal amount of notes.
| Issuer: | Morgan Stanley
|
| Issue: | Performance Leveraged Upside Securities
|
| Underlying index fund: | iShares MSCI Emerging Markets
|
| Amount: | $100 million
|
| Maturity: | March 14, 2008
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double any share price increase, capped at 23.2%; par if share price declines by less than 10%; otherwise, par minus the decline, plus $100
|
| Initial share price: | $106.242
|
| Pricing date: | March 5
|
| Settlement date: | March 8
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Agent fees: | 1%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
