By Susanna Moon
Chicago, May 30 - Morgan Stanley priced $1 million of fixed-to-floating notes due June 15, 2019, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 6% for the first two years. After that it will be Libor plus 300 basis points, with a maximum rate in each interest payment period equal to the rate in the immediately preceding interest payment period plus 50 basis points and a minimum interest rate equal to the rate in the immediately preceding payment period. Interest is payable quarterly.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
|
Issue: | Fixed-to-floating notes
|
Amount: | $1 million
|
Maturity: | June 15, 2019
|
Coupon: | 6% initially; beginning June 15, 2014, Libor plus 300 bps, with cap in each interest payment period equal to rate in immediately preceding interest payment period plus 50 bps and floor equal to the rate in the immediately preceding payment period; payable quarterly
|
Price: | Variable
|
Payout at maturity: | Par
|
Pricing date: | May 25
|
Settlement date: | June 15
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | 2.25%
|
Cusip: | 61760QBM5
|
© 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.