Morgan Stanley plans fixed-to-floating notes with 3.75% initial rate

By Jennifer Chiou

New York, Nov. 30 - Morgan Stanley plans to price fixed-to-floating notes due Dec. 15, 2015 linked to Libor, according to an FWP with the Securities and Exchange Commission.

Interest is payable quarterly and will be fixed at 3.75% until Dec. 15, 2011. After that, interest will accrue at Libor plus 100 basis points. The coupon is subject to a floor of 1.25% per year.

The payout at maturity will be par.

The notes (Cusip: 61745EY96) will price in December and settle on Dec. 15.

Morgan Stanley & Co. Inc. is the agent.

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