MUFGÆs entire investment, which will give it a 21% stake in Morgan Stanley, will now be in the form of preferred stock. It will buy approximately $7.8 billion of perpetual, non-cumulative, convertible preferred stock, which is convertible at a price of $25.25 per share, and $1.2 billion of perpetual, non-cumulative, non-convertible preferred stock. Both the convertible and non-convertible preferred stock will carry a 10% annual dividend.
Half of the convertible preferred stock automatically...
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