By Toni Weeks
San Diego, June 23 - Morgan Stanley priced an addition R$1 million of Brazilian real-denominated senior fixed-rate step-up securities due March 25, 2015, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total issue size to R$11 million. The original R$1 million priced March 4, and an additional R$9 million priced March 25.
The securities are real-denominated, but all interest payments and the payout at maturity will be converted into dollars at the exchange rate then in effect.
The coupon will be 9% for the first year, stepping up to 9.25% on March 25, 2012, to 9.75% on March 25, 2013 and to 10% on March 25, 2014. Interest is payable annually.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Senior fixed-rate step-up securities
|
| Amount: | R$11 million, increased from R$1 million
|
| Maturity: | March 25, 2015
|
| Coupon: | 9% initially, stepping up to 9.25% on March 25, 2012, to 9.75% on March 25, 2013 and to 10% on March 25, 2014; payable annually in dollars
|
| Price: | Variable prices
|
| Payout: | Amount in dollars equal to par, converted at exchange rate then in effect
|
| Pricing dates: | March 4 for R$1 million; March 25 for R$9 million; June 21 for R$1 million
|
| Settlement dates: | March 25 for R$10 million; July 12 for R$1 million
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.25% for first R$10 million, 0.75% for R$1 million
|
| Cusip: | 61747YCX1
|
© 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.
