By Laura Lutz
Des Moines, April 25 - Morgan Stanley priced $2.42 million of 12% annualized RevCons due Oct. 28, 2008 linked to shares of the Market Vectors - Russia ETF, according to an FWP filing with the Securities and Exchange Commission.
If the shares stay at or above the protection price, 75% of the initial price, during the life of the notes and finish at or above their initial price, the payout at maturity will be a number of shares equal to par divided by the initial price.
Otherwise, the payout will be par.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | RevCons
|
| Underlying stock: | Market Vectors - Russia ETF
|
| Amount: | $2.42 million
|
| Maturity: | Oct. 28, 2008
|
| Coupon: | 12%
|
| Price: | Par
|
| Payout at maturity: | If stock stays at or above 75% of initial price during life of notes and finishes at or above initial price, Diamond Offshore shares equal to par divided by initial price; otherwise, par
|
| Initial price: | $51.52
|
| Protection price: | $38.64, 75% of initial price
|
| Exchange ratio: | 19.40994
|
| Pricing date: | April 23
|
| Settlement date: | April 28
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 1.5%
|
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