New York, May 12 – Morgan Stanley priced $7 million of fixed-to-floating rate notes due May 30, 2027, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly and will be at a rate of 4.25% for the first three years. After that, it will accrue at the 10-year U.S. Dollar ICE swap rate with a floor of zero.
The payout at maturity will be par plus accrued interest, if any.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Fixed-to-floating notes
|
| Amount: | $7 million
|
| Maturity: | May 30, 2027
|
| Coupon: | 4.25% for first three years, 10-year U.S. Dollar ICE swap rate with a floor of zero: payable quarterly
|
| Price: | Varying
|
| Payout at maturity: | Par
|
| Pricing date: | May 5
|
| Settlement date: | May 30
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fee: | 1 %
|
| Cusip: | 61760QKJ2
|
|
|
|
|
© 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.
