By E. Janene Geiss
Philadelphia, Oct. 29 - Morgan Stanley priced $3 million of leveraged callable CMS curve-linked notes due Oct. 30, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is fixed at 10.5% for the first year. Beginning Oct. 30, 2011, interest will equal four times the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate, subject to a floor of 0% and a cap of 15% per year in each interest period.
Interest is payable quarterly.
The payout at maturity will be par.
Beginning Oct. 30, 2011, the notes are callable at par on any interest payment date.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Leveraged callable CMS curve-linked notes
|
| Amount: | $3 million
|
| Maturity: | Oct. 30, 2029
|
| Coupon: | 10.5% for the first year; beginning Oct. 30, 2011, four times the spread of the 30-year CMS rate over the two-year CMS rate, with floor of 0% and cap of 15% per year; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates from Oct. 30, 2011 onward
|
| Pricing date: | Oct. 27
|
| Settlement date: | Oct. 30
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 4%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
