By Angela McDaniels
Tacoma, Wash., June 25 - Morgan Stanley priced $10 million of fixed-to-floating-rate notes due Dec. 28, 2014, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 1% for the first six months. Beginning Dec. 28, 2013, the interest rate is Libor plus 65 basis points, subject to a minimum rate of 1% per year. Interest is payable quarterly.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent. Morgan Stanley Smith Barney LLC will handle distribution.
The issuer said it may increase the issue size prior to the settlement date but is not required to do so.
| Issuer: | Morgan Stanley
|
| Issue: | Fixed-to-floating-rate notes
|
| Amount: | $10 million
|
| Maturity: | Dec. 28, 2014
|
| Coupon: | 1% initially; beginning Dec. 28, 2013, Libor plus 65 bps, subject to minimum of 1% per year; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | June 21
|
| Settlement date: | June 28
|
| Agent: | Morgan Stanley & Co. LLC
|
| Distribution: | Morgan Stanley Smith Barney LLC
|
| Fees: | 0.125%
|
| Cusip: | 61760QCU6
|
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