Morgan Stanley eyes fixed-to-floaters tied to 10-year dollar ICE rate

By Devika Patel

Knoxville, Tenn., Jan. 24 – Morgan Stanley plans to price fixed-to-floating-rate notes due Jan. 31, 2028 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 is 4.15% until Jan. 31, 2020. After that, the interest rate will be equal to the 10-year U.S. dollar ICE swap rate. Interest will be payable quarterly.

The payout at maturity will be par.

Morgan Stanley & Co. LLC is the agent, with Morgan Stanley Wealth Management handling distribution.

The notes (Cusip: 61760QKW3) will price on Jan. 26 and settle on Jan. 31.

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