By Susanna Moon
Chicago, Oct. 14 - Morgan Stanley priced $140 million of senior step-up callable notes due Oct. 15, 2020 with an initial coupon of 4%, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 4% for the first three years. The rate will be 5% from Oct. 15, 2013 to Oct. 14, 2017 and 6% from Oct. 15, 2017 to maturity.
The notes are callable at par on any quarterly redemption date beginning Oct. 15, 2013.
Morgan Stanley & Co. Inc. is the agent.
The financial services company is based in New York.
| Issuer: | Morgan Stanley
|
| Issue: | Senior fixed-rate step-up callable notes
|
| Amount: | $140 million
|
| Maturity: | Oct. 15, 2020
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Coupon: | 4% for three years, 5% for years four to seven and 6% thereafter
|
| Price: | Par
|
| Call option: | At par on any quarterly redemption date after three years
|
| Trade date: | Oct. 12
|
| Settlement date: | Oct. 15
|
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