By Susanna Moon
Chicago, July 25 - Morgan Stanley priced $3.62 million of 0% Trigger Performance Leveraged Upside Securities due Oct. 20, 2009 linked to the Financial Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.
If the final fund level is greater than the initial fund level, the payout at maturity will be par plus 200% of the fund gain, capped at 34.5%.
If the final fund level is less than or equal to the initial fund level, the payout will be par unless the fund falls by more than 20% during the life of the notes, in which case investors will be fully exposed to the fund decline.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Trigger Performance Leveraged Upside Securities
|
| Underlying fund: | Financial Select Sector SPDR fund
|
| Amount: | $3,615,560
|
| Maturity: | Oct. 20, 2009
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any fund gain, capped at maximum return of 34.5%; par if fund finishes below initial level but never falls below trigger level; full exposure to decline if fund falls below trigger level during life of notes and finishes below initial level
|
| Initial fund level: | $20.95
|
| Trigger level: | $16.76, 80% of initial level
|
| Pricing date: | July 24
|
| Settlement date: | July 31
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 1.5%
|
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