By Angela McDaniels
Tacoma, Wash., Sept. 16 - Morgan Stanley priced $1 million of CMS curve and Russell 2000 index-linked range accrual notes due Sept. 30, 2031, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 10% for the first year. Beginning Sept. 30, 2012, it will be 10% per year multiplied by the proportion of days on which the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate is greater than or equal to zero and the Russell 2000 index closes at or above 450. Interest is payable monthly.
The payout at maturity will be par.
The issuer said it may increase the issue size prior to the settlement date but is not required to do so.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | CMS curve and Russell 2000 index-linked range accrual notes
|
| Amount: | $1 million
|
| Maturity: | Sept. 30, 2031
|
| Coupon: | 10% initially; beginning Sept. 30, 2012, 10% multiplied by proportion of days on which spread of 30-year CMS rate over two-year CMS rate is greater than or equal to zero and Russell 2000 index closes at or above 450; payable monthly
|
| Price: | Variable prices
|
| Payout at maturity: | Par
|
| Pricing date: | Sept. 14
|
| Settlement date: | Sept. 30
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 4%
|
| Cusip: | 61745EP54
|
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