By Jennifer Chiou
New York, April 25 - Morgan Stanley priced $15.2 million of zero-coupon protected absolute return barrier notes due Oct. 20, 2008 linked to the PHLX Housing Sector index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index remains within the index range during the life of the notes, the payout at maturity will be par of $10.00 plus the absolute value of the index return, capped at 25%. Otherwise, the payout will be par.
The lower boundary of the index range is 75% of the initial index level, and the upper boundary is 125% of the initial index level.
Morgan Stanley said it will list the notes under the symbol "HPD" on the American Stock Exchange.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Protected absolute return barrier notes
|
| Underlying index: | PHLX Housing Sector index
|
| Amount: | $15.2 million
|
| Maturity: | Oct. 20, 2008
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | If index remains within the index range, par plus absolute value of index return, capped at 25%; otherwise par
|
| Initial index level: | 228.42
|
| Index range: | 75% to 125% of initial index level
|
| Pricing date: | April 23
|
| Settlement date: | April 30
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Agent fees: | 1.75%
|
| Listing: | "HPD" on the American Stock Exchange
|
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