By Laura Lutz
Des Moines, April 7 - Morgan Stanley priced $3.29 million of 0% Buffered Performance Leveraged Upside Securities (PLUS) due May 11, 2009 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the final index level is at least the initial level, the payout at maturity will be par plus 200% of any index gain, subject to a maximum payout equal to 119.85% of par.
If the index declines by up to 5%, the payout will be par. Investors will lose 1% for each 1% that the index declines beyond 5%.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Buffered Performance Leveraged Upside Securities (PLUS)
|
| Underlying index: | S&P 500 index
|
| Amount: | $3.29 million
|
| Maturity: | May 11, 2009
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is at least initial level, par plus 200% of any index gain, capped at payout equal to 119.85% of par; par if index declines by up to 5%; investors lose 1% for each 1% decline beyond 5%
|
| Initial index level: | 1,369.31
|
| Pricing date: | April 3
|
| Settlement date: | April 10
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 1%
|
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