Published on 6/28/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $4.69 million floating-rate notes tied to SOFR
By Wendy Van Sickle
Columbus, Ohio, June 28 – Morgan Stanley priced $4.69 million of floating-rate notes due June 27, 2025 linked to SOFR, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be equal to SOFR. Interest will be payable quarterly and cannot be less than 3% or more than 4.25% per year.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
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Issue: | Floating-rate notes
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Underlying rate: | SOFR
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Amount: | $4,685,000
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Maturity: | June 27, 2025
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Coupon: | SOFR with floor of 3% and cap of 4.25% per year, payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | June 23
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Settlement date: | June 27
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.3%
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Cusip: | 61761J4P1
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