By Jennifer Chiou
New York, Oct. 19 - Morgan Stanley priced $15 million of fixed- to floating-rate notes due Oct. 27, 2017 linked to Libor, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly and will be fixed at 4.2% for the first two years. Thereafter, interest will accrue at Libor plus a fixed spread of 150 basis points. The coupon is subject to a floor of zero and a cap of 6.5% per year in each interest period.
The payout at maturity will be par.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Libor fixed- to floating-rate notes
|
| Amount: | $15 million
|
| Maturity: | Oct. 27, 2017
|
| Coupon: | 4.2% for first two years; beginning Oct. 27, 2012, Libor plus 150 bps with floor of zero and cap of 6.5% in each interest period; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Oct. 15
|
| Settlement date: | Oct. 27
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 0.45%
|
| Cusip: | 61745ES93
|
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