By Jennifer Chiou
New York, March 30 - Morgan Stanley priced $1.97 million of floating-rate notes due March 31, 2020 linked to the 10-year Constant Maturity Sifma Municipal Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable and reset quarterly at a variable rate equal to the 10-year CMS Sifma rate plus 50 basis points, subject to a floor of 3% and a cap of 9%.
The 10-year CMS Sifma rate is linked to the 10-year Constant Maturity Swap rate and the 10-year Sifma/Libor ratio.
The payout at maturity will be par.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | 10-year Constant Maturity Sifma Municipal Swap rate floaters
|
| Amount: | $1,973,000
|
| Maturity: | March 31, 2020
|
| Coupon: | 10-year CMS Sifma rate plus 50 basis points, subject to a floor of 3% and a cap of 9%; payable and reset quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | March 28
|
| Settlement date: | March 31
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 2.25%
|
| Cusip: | 61745E4X6
|
© 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.
