By Susanna Moon
Chicago, May 24 - Morgan Stanley priced $6.03 million of fixed-to-floating notes due May 31, 2017 linked to the Consumer Price Index, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 3% for the first year. After that, it will be equal to the year-over-year change in the Consumer Price Index plus 100 basis points, up to a maximum rate of 7%. Interest is payable monthly and cannot be less than zero.
The payout at maturity will be par.
Morgan Stanley & Co. Inc. is the agent.
Issuer: | Morgan Stanley
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Issue: | Fixed-to-floating notes
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Underlying index: | Consumer Price Index
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Amount: | $6,025,000
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Maturity: | May 31, 2017
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Coupon: | 3% for one year; then year-over-year change in CPI plus 100 bps, capped at 7%; payable monthly
|
Price: | Par
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Payout at maturity: | Par
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Pricing date: | May 23
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Settlement date: | May 31
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Agent: | Morgan Stanley & Co. Inc.
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Fees: | 1.25%
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Cusip: | 61745EQ87
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