By Wendy Van Sickle
Columbus, Ohio, March 15 – Morgan Stanley Finance LLC priced $2 million of callable fixed-rate step-up notes due Sept. 15, 2025, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The coupon is initially 2.15% per year. It will step up to 2.4% on March 15, 2024. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable annually at par starting on March 15, 2024.
Morgan Stanley & Co. LLC is the agent with Morgan Stanley Wealth Management handling distribution.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Callable fixed-rate step-up notes
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Amount: | $2 million
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Maturity: | Sept. 15, 2025
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Coupon: | 2.15% annually, stepping up to 2.4% on March 15, 2024; payable semiannually
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Call option: | Annually at par starting March 15, 2024
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | March 11
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Settlement date: | March 15
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Agent: | Morgan Stanley & Co. LLC
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Distribution: | Morgan Stanley Wealth Management
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Fees: | 0.55%
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Cusip: | 61766YJE2
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