The deal does not commit MUFG to support Morgan Stanley, but the Japanese bank's $1,100bn deposit base appeared to help restore investor confidence in Morgan Stanley's ability to secure critical short-term funding.
Morgan Stanley's share price, which plunged from nearly $24 to a low of $6.71 last week, was up 75 per cent at $16.96 in midday trading in New York.
Last month, MUFG agreed to pay $6bn for preferred stock, which gave it the option to convert the security into common shares at a price of $31.25, as well as $3bn for common stock priced at $25.25 per share. The preferred stock in that deal paid a 10 per cent dividend.
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