By William Gullotti
Buffalo, N.Y., Feb. 13 – Morgan Stanley Finance LLC priced $1.03 million of fixed-to-floating-rate notes due Feb. 9, 2032, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The interest rate is 5.2% for the first three years. Starting Feb. 9, 2027, it will be SOFR plus 100 basis points, reset quarterly. Interest is payable quarterly and is subject to a 2% floor and a 6% ceiling.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Fixed-to-floating-rate notes
|
| Amount: | $1,029,000
|
| Maturity: | Feb. 9, 2032
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| Coupon: | 5.2% for first three years; starting Feb. 9, 2027, SOFR plus 100 bps, reset quarterly and subject to a floor of 2% and ceiling of 6%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Feb. 7
|
| Settlement date: | Feb. 9
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fee: | 1.75%
|
| Cusip: | 61761J6A2
|
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