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Morgan Stanley plans floaters on two-year, 10-year, 30-year CMS rates
By Toni Weeks
San Diego, Dec. 7 - Morgan Stanley plans to price floating-rate notes due Dec. 23, 2019, according to an FWP filing with the Securities and Exchange Commission.
The coupon will be the greater of the two-year Constant Maturity Swap rate, the 10-year CMS rate and the 30-year CMS rate, subject to a minimum interest rate of 4.5% per year in each interest period. Interest is payable quarterly.
The payout at maturity will be par.
The notes (Cusip: 61745E4F5) are expected to settle Dec. 23.
Morgan Stanley & Co. LLC will be the agent with Morgan Stanley Smith Barney LLC as distributor.
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