Stock Participation Accrediting Redemption Quarterly-Pay SecuritiesSM
Stock Participation Accrediting Redemption Quarterly-Pay SecuritiesSM (SPARQSSM)
Callable medium-term debt securities issued by Morgan Stanley that pay quarterly interest based on the issue price and at maturity exchange for a specific number of shares of the underlying security.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.