By Wendy Van Sickle
Columbus, Ohio, Dec. 17 – Morgan Stanley Finance LLC priced $123.17 million of floating-rate notes with holder put right due Dec. 15, 2061 linked to SOFR, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Interest will be equal to SOFR minus 35 basis points. Interest will be payable monthly and cannot be less than zero.
Holders will have a put right at 97% of par starting Dec. 15, 2023 and at par starting Dec. 15, 2051.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Floating-rate notes with holder put right
|
| Underlying rate: | SOFR
|
| Amount: | $123,169,000
|
| Maturity: | Dec. 15, 2061
|
| Coupon: | SOFR minus 35 bps with floor of 0%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Put option: | At 97% of par starting Dec. 15, 2023, at par starting Dec. 15, 2051
|
| Pricing date: | Dec. 10
|
| Settlement date: | Dec. 15
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1%
|
| Cusip: | 61773FET6
|
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