By Toni Weeks
San Diego, April 29 - Morgan Stanley priced an additional $5 million of fixed-to-floating-rate notes due April 29, 2016, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $15 million. The first $10 million of notes priced April 25.
The coupon will be 3% for the first year. After that, it will equal Libor plus 100 basis points, up to a maximum rate of 7%. Interest is payable quarterly.
The payout at maturity will be par.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Fixed-to-floating-rate notes
|
| Amount: | $15 million, upsized from $10 million
|
| Maturity: | April 29, 2016
|
| Coupon: | 3% for the first year; then Libor plus 100 bps, capped at 7%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | April 25 for $10 million; April 28 for $5 million
|
| Settlement date: | April 29
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 0.375%
|
| Cusip: | 61745EM24
|
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