MORGAN STANLEY CAP TR III (NYSE:MWR)

CAPS Rating: No stars

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Player Avatar WinyahBayInv (97.91) Submitted: 9/30/2008 7:49:58 PM : Outperform Start Price: $7.52 MWR Score: +104.23

MWR is a trust preferred security holding guaranteed unsecured debt in Morgan Stanley.
Morgan Stanley Debt is rated A1 by Moodys and A- by S&P.
MWR is selling at under 50 cents on the dollar.
Unless Morgan Stanley fails, MWR will be redeemed by March 2033 at $25 per share.
Until the shares are redeemed, Morgan Stanley will pay an annual dividend of 6.25% of face value (That’s a 15.6% yield at $10 a share)
Link to IPO prospectus: http://www.sec.gov/Archives/edgar/data/895421/0000905148-03-000683.txt

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