Morgan Stanley plans to price 10-year CMS Sifma rate floaters due 2019

By E. Janene Geiss

Philadelphia, Jan. 28 - Morgan Stanley plans to price floating-rate notes due February 2019 linked to the 10-year Constant Maturity Sifma Municipal Swap rate, according to an FWP filing with the Securities and Exchange Commission.

Interest is payable quarterly at a variable rate equal to the 10-year CMS Sifma rate plus 50 basis points, subject to a floor of 3%.

The 10-year CMS Sifma rate is based on the 10-year Constant Maturity Swap rate and the 10-year Sifma/Libor ratio.

The payout at maturity will be par.

The notes (Cusip: 61745E4R95) will price and settle in February.

Morgan Stanley & Co. Inc. is the agent.

© 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.