By Angela McDaniels
Tacoma, Wash., July 27 - Morgan Stanley priced $5 million of six-month Libor range accrual notes due Aug. 12, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 7% per year multiplied by the proportion of days on which six-month Libor is 7% or less. Interest is payable quarterly.
The payout at maturity will be par.
Beginning Aug. 12, 2011, the notes will be callable at par on any interest payment date.
The issuer said the issue size may be increased prior to the settlement date, which will be Aug. 12.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Six-month Libor range accrual notes
|
| Amount: | $5 million
|
| Maturity: | Aug. 12, 2025
|
| Coupon: | 7% per year multiplied by proportion of days on which six-month Libor is 7% or less; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates from Aug. 12, 2011 onward
|
| Pricing date: | July 23
|
| Settlement date: | Aug. 12
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 3%
|
| Cusip: | 61745E3C3
|
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