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Morgan Stanley SPARQS 14% Apple Inc. due 3/20/2009
Ticker Symbol: ANY* CUSIP: 61747W489 Exchange: NYSEA
* NOTE: This security is no longer trading as of 3/20/2009
QUANTUMONLINE.COM SECURITY DESCRIPTION: Morgan Stanley, 14% SPARQS (Stock Participation Accreting Redemption Quarterly-pay Securities), due 3/20/2009, mandatorily exchangeable at maturity for common stock of Apple Inc. (Nasdaq: AAPL) unless called prior to maturity, and issued at $11.946 per SPARQS (the closing price of one tenth share of Apple common stock on 2/22/2008). The SPARQS pay 14% ($1.67244) per annum quarterly interest distributions on 6/20/2008, 9/20/2008, 12/20/2008 & 3/20/2009 to holders of record five calendar days prior to the payment date. The units are callable at Morgan Stanley’s option on or after 9/20/2008 for cash at a total maximum annual yield, including distributions, of 22% per annum. At maturity, if not previously called, the holder will receive one tenth share of Apple common stock for each SPARQS. See page 5 of the prospectus for hypothetical examples of the call price calculations and page 3 of the prospectus for a discussion of the tax considerations of the SPARQS. If on any date during the term of the SPARQS the price of Apple common stock is less than $2.00 times the exchange ratio, the maturity date of the SPARQS will be accelerated and the shares of Apple common stock will be delivered to the holders. The SPARQS are Global Medium-Term Notes, Series F, Senior Fixed Rate Notes which are senior unsecured debt securities issued by Morgan Stanley and will rank equally with their other unsecured and unsubordinated debt. See the IPO prospectus for further information on the SPARQS and their call and maturity provisions by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (AAPL)
IPO - 2/26/2008 - 1.48 Million Notes @ $11.946/note.
Link to IPO Prospectus
Market Value $17.6 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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