By William Gullotti
Buffalo, N.Y., Feb. 12 – Morgan Stanley priced $3.66 million of fixed-rate step-up notes due Jan. 31, 2029, according to a 424B2 with the Securities and Exchange Commission.
The coupon is initially 4.4%. It will step up to 4.7% on Jan. 31, 2027. Interest is payable semiannually.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent with Morgan Stanley Wealth Management handling distribution.
Issuer: | Morgan Stanley
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Issue: | Fixed-rate step-up notes
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Amount: | $3.66 million
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Maturity: | Jan. 31, 2029
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Coupon: | 4.4%, stepping up to 4.7% on Jan. 31, 2027; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | Jan. 29
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Settlement date: | Jan. 31
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Agent: | Morgan Stanley & Co. LLC
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Distribution: | Morgan Stanley Wealth Management
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Fees: | 1.2%
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Cusip: | 61760QPN8
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