By Jennifer Chiou
New York, July 24 - Morgan Stanley priced a $6.6 million issue of 0% buffered return enhanced notes due Aug. 1, 2008 linked to the Dow Jones Euro Stoxx 50 index via J.P. Morgan Securities Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any positive return on the index, subject to a maximum return of 16.5%.
Investors will receive par if the index declines by up to 10% and will lose 1.1111% for each 1% that the index falls beyond 10%.
The final index level will be the average of the index's closing levels on July 23, July 24, July 25, July 28 and July 29 of 2008.
| Issuer: | Morgan Stanley
|
| Issue: | Buffered return enhanced notes
|
| Underlying index: | Dow Jones Euro Stoxx 50
|
| Amount: | $6.6 million
|
| Maturity: | Aug. 1, 2008
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double any index gain, capped at 16.5%; par if index falls by 10% or less; 1.1111% loss for each 1% decline beyond 10%
|
| Initial index level: | 4,445.23
|
| Pricing date: | July 20
|
| Settlement date: | July 27
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | 1%
|
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