Morgan Stanley plans 20-year accrual notes on CMS curve, S&P 500

By Jennifer Chiou

New York, Nov. 14 - Morgan Stanley plans to price CMS curve and S&P 500 index-linked range accrual notes due Nov. 30, 2031, according to an FWP with the Securities and Exchange Commission.

The coupon will be 10% for the first two years. After that, it will accrue at 10% for each day that the 30-year Constant Maturity Swap rate is equal to or greater than the two-year CMS rate and the index closes at or above 750. Interest will be payable monthly.

The payout at maturity will be par.

The notes (Cusip: 61745E2M2) will settle on Nov. 30.

Morgan Stanley & Co. LLC is the agent.

© 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.