New Issue: Morgan Stanley prices $1 million five-year fixed-to-floaters with 5.5% initial rate

By Marisa Wong

Madison, Wis., July 31 - Morgan Stanley priced $1 million of fixed-to-floating notes due Aug. 14, 2017, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 5.5% for the first year. After that it will be equal to Libor plus 250 basis points, subject to a minimum rate of 3%. 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:	Aug. 14, 2017
Coupon:	5.5% initially; beginning Aug. 14, 2013, Libor plus 250 bps, floor of 3%; payable quarterly
Price:	Variable
Payout at maturity:	Par
Pricing date:	July 27
Settlement date:	Aug. 14
Agent:	Morgan Stanley & Co. LLC
Fees:	1.25%
Cusip:	61760QBU7

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