By Angela McDaniels
Tacoma, Wash., May 26 – Morgan Stanley priced $11.5 million of fixed-to-floating-rate notes due May 27, 2030 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 4% for the first five years. After that, the interest rate will be equal to the 10-year CMS rate. Interest is payable quarterly.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Fixed-to-floating-rate notes
|
| Underlying rate: | 10-year Constant Maturity Swap rate
|
| Amount: | $11.5 million
|
| Maturity: | May 27, 2030
|
| Coupon: | 4% for first five years; after that, 10-year CMS rate; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | May 14
|
| Settlement date: | May 27
|
| Underwriter: | Morgan Stanley & Co. LLC
|
| Fees: | 1.75%
|
| Cusip: | 61760QGA6
|
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