Morgan Stanley to price fixed-to-floating notes tied to ICE swap rate

By Angela McDaniels

Tacoma, Wash., Sept. 16 – Morgan Stanley plans to price fixed-to-floating notes due Sept. 30, 2026 linked to the 10-year U.S. dollar ICE swap rate, according to an FWP filing with the Securities and Exchange Commission.

The interest rate will be 3.75% for the first three years. After that, the interest rate will be equal to the 10-year dollar ICE swap rate. Interest will be payable quarterly and cannot be less than zero.

The payout at maturity will be par.

Morgan Stanley & Co. LLC is the agent.

The notes will settle Sept. 30.

The Cusip number is 61760QKA1.

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