Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers 1 > Headlines for 10-year Constant Maturity Swap rate > News item |
Morgan Stanley plans fixed-to-floating notes tied to 10-year CMS rate
By Susanna Moon
Chicago, July 14 – Morgan Stanley plans to price fixed-to-floating-rate notes due July 31, 2025 linked to the 10-year Constant Maturity Swap rate, according to an FWP filing with the Securities and Exchange Commission.
Interest will be fixed at 3.5% for the first three years. After that, the rate will be equal to the 10-year CMS rate. Interest will be payable quarterly and cannot be less than zero.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
The notes will settle on July 31.
The Cusip number is 61760QGU2.
© 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.