New Issue: Morgan Stanley prices $30 million fixed-to-floating notes with 6.5% cap

By Susanna Moon

Chicago, July 22 - Morgan Stanley priced $30 million of fixed-to-floating-rate notes due July 22, 2017, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 3% for one year. After that, it will be Libor plus 200 basis points, up to a maximum rate of 6.5%. 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:	$30 million
Maturity:	July 22, 2017
Coupon:	3% initially; beginning July 22, 2012, Libor plus 200 bps, capped at 6.5%; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	July 7
Settlement date:	July 22
Agents:	Morgan Stanley & Co. Inc.
Fees:	0.625%
Cusip:	61745E3L3

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