By Angela McDaniels
Tacoma, Wash., April 15 - Morgan Stanley priced an additional $2 million of six-month Libor and S&P 500 index range accrual notes due April 16, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
The notes bring the issue size to $6 million. The original $4 million of notes priced April 3.
Interest is fixed at 12.5% per year for the first two years. Beginning April 16, 2011, interest will accrue at 12.5% per year for each day that six-month Libor is 7% or less and the S&P 500 is at least 500. Interest is payable monthly.
Beginning April 16, 2012, the notes are callable at par on quarterly redemption dates.
The payout at maturity will be par.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Six-month Libor and S&P 500 index range accrual notes
|
| Amount: | $6 million, upsized from $4 million
|
| Maturity: | April 16, 2029
|
| Coupon: | Initially, 12.5% per year; beginning April 16, 2011, 12.5% per year multiplied by proportion of days on which six-month Libor is 7% or less and the S&P 500 is at least 500; payable monthly
|
| Price: | Par
|
| Call option: | At par on Jan. 16, April 16, July 16 and Oct. 16 of each year from April 16, 2012 onward
|
| Payout at maturity: | Par
|
| Pricing date: | April 3 for $4 million; April 14 for $2 million
|
| Settlement date: | April 16
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 3%
|
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