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Morgan Stanley plans fixed-to-floaters due 2017 with 5% initial rate
By Susanna Moon
Chicago, May 11 - Morgan Stanley plans to price senior fixed-to-floating notes due May 30, 2017, according to an FWP filing with the Securities and Exchange Commission.
The coupon will initially be 5%. Beginning May 30, 2014, it will be Libor plus 200 basis points, with a minimum rate of 2.5%. Interest is payable quarterly.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
The notes will settle on May 30.
The Cusip number is 61760QBK9.
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