American Stock Exchange Lists Morgan Stanley SPARQS Based on Lyondel Chemical Co. Common Stock
January 24 2005 - 3:04PM
PR Newswire (US)
American Stock Exchange Lists Morgan Stanley SPARQS Based on
Lyondel Chemical Co. Common Stock NEW YORK, Jan. 24 /PRNewswire/ --
The American Stock Exchange(R) (Amex(R)) today listed and began
trading Morgan Stanley 9% Stock Participation Accreting Redemption
Quarterly-pay Securities(SM) ("SPARQS") mandatorily exchangeable
for shares of common stock of Lyondell Chemical Company. The new
securities trade under the symbol, LSM, and were issued at a price
of $28.86 per unit with an initial offer size of just over 1.4
million units and a January 30, 2006 maturity date. These Morgan
Stanley SPARQS will bear annual interest of 9% based on the initial
offering price. Interest will be payable quarterly beginning April
30, 2005. At maturity, holders will receive one share of Lyondell
Chemical Company common stock in exchange for each SPARQS, subject
to the issuer's right to call the SPARQS for the cash call price.
The specialist in this security is AIM Securities. If you would
like to receive a copy of the prospectus for LSM, please contact
the Capital Markets Group at the American Stock Exchange at (212)
306- 1659. The American Stock Exchange(R) (Amex(R)) is the only
primary exchange that offers trading across a full range of
equities, options and exchange traded funds (ETFs), including
structured products and HOLDRS(SM). In addition to its role as a
national equities market, the Amex is the pioneer of the ETF,
responsible for bringing the first domestic product to market in
1993. Leading the industry in ETF listings, the Amex lists 144
ETFs. The Amex is also one of the largest options exchanges in the
U.S., trading options on broad-based and sector indexes as well as
domestic and foreign stocks. For more information, please visit
http://www.amex.com/. DATASOURCE: American Stock Exchange CONTACT:
Dan Charnas, American Stock Exchange, +1-212-306-1654, Web site:
http://www.amex.com/
Copyright