By Marisa Wong
Madison, Wis., Aug. 19 - Morgan Stanley priced $1 million of leveraged callable CMS curve-linked notes due Aug. 31, 2030, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will accrue at 11% for the first year. After that, the rate will be five times the spread of the 10-year Constant Maturity Swap rate over the two-year CMS rate, up to a maximum rate of 15%. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning Aug. 31, 2011.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Leveraged callable CMS curve-linked notes
|
| Amount: | $1 million
|
| Maturity: | Aug. 31, 2030
|
| Coupon: | 11% for first year; after that, five times spread of 10-year CMS rate over two-year CMS rate, capped at 15% with a floor of 0%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call: | At par on any interest payment date beginning Aug. 31, 2011
|
| Pricing date: | Aug. 18
|
| Settlement date: | Aug. 31
|
| Agent: | Morgan Stanley & Co.
|
| Fees: | 4%
|
| Cusip: | 61745E6J5
|
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