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Morgan Stanley SPARQS 10% Apple Computer Inc. due 4/15/2006
Ticker Symbol: ALR** CUSIP: 61746Y585 Exchange: AMEX
* NOTE: This security is no longer trading as of 10/21/2005
QUANTUMONLINE.COM SECURITY DESCRIPTION: Morgan Stanley, 10% SPARQS (Stock Participation Accreting Redemption Quarterly-pay Securities), due 4/15/2006, mandatorily exchangeable at maturity for common stock of Apple Computer Inc. (Nasdaq: AAPL) unless called prior to maturity, and issued at $10.7075 per SPARQS (the closing price of one-fourth share of Apple Computer common stock on 3/22/2005). The SPARQS pay 10% ($1.07075) per annum quarterly interest distributions on 7/15/05, 10/15/05, 1/15/06 & 4/15/2006 to holders of record five calendar days prior to the payment date. The units are callable at Morgan Stanley’s option beginning 9/30/2005 for cash at a total maximum annual yield, including distributions, of 24% per annum. At maturity, if not previously called, the holder will receive one-fourth share of Apple Computer common stock for each SPARQS. If on any date during the term of the SPARQS the price of Apple Computer common stock is less than $2.00, the maturity date of the SPARQS will be accelerated and the shares of Apple Computer common stock will be delivered to the holders. The SPARQS are Global Medium-Term Notes, Series C, Senior Fixed Rate Notes which are senior unsecured debt securities issued by Morgan Stanley and will rank equally with all of their other unsecured and unsubordinated debt. ee the IPO prospectus for further information on the SPARQS by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (AAPL)
IPO - 3/28/2005 - 1.55 Million Notes @ $10.7075/note.
Link to IPO Prospectus
Market Value $16.6 Million
Company's Online Information Links
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Company's Online SEC EDGAR Filings |
Company's Email Address Links |
Address and Phone Numbers |
Address: 1585 Broadway, New York, NY 10036 |
Main Phone Number |
212-761-4000 |
Fax Number |
212-761-0086 |
Investor Contact
William Pike
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212-761-0008
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Toll Free Phone Number |
800-733-2307 |
CEO - Philip J. Purcell |
CFO - Robert Scott |
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