By Toni Weeks
San Diego, Jan. 24 - Morgan Stanley priced $4 million of CMS curve and S&P 500 index-linked range accrual notes due Jan. 25, 2027, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at 9% for each day that the 30-year Constant Maturity Swap rate is equal to or greater than the two-year CMS rate and the S&P 500 index closes at or above 900. Interest is payable quarterly.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent, and Morgan Stanley Smith Barney LLC will handle distribution.
| Issuer: | Morgan Stanley
|
| Issue: | CMS curve and S&P 500 index-linked range accrual notes
|
| Amount: | $4 million
|
| Maturity: | Jan. 25, 2027
|
| Coupon: | 9% for each day that the 30-year Constant Maturity Swap rate is equal to or greater than the two-year CMS rate and the S&P 500 index closes at or above 900; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Jan. 20
|
| Settlement date: | Jan. 25
|
| Agent: | Morgan Stanley & Co. LLC, with Morgan Stanley Smith Barney LLC as distributor
|
| Fees: | 3.5%
|
| Cusip: | 61745E4Z1
|
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