By E. Janene Geiss
Philadelphia, Aug. 8 - Morgan Stanley priced $2.21 million of 0% Trigger Performance Leveraged Upside Securities due Aug. 16, 2010 linked to the Market Vectors - Russia ETF, 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 of $10 plus double any gain on the fund, capped at $13.50 per note.
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: | Market Vectors - Russia ETF
|
| Amount: | $2.21 million
|
| Maturity: | Aug. 16, 2010
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus double any fund gain, capped at $13.50 per note; 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 share price: | $42.30
|
| Trigger level: | $33.84, 80% of initial level
|
| Pricing date: | Aug. 7
|
| Settlement date: | Aug. 14
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 1.5%
|
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