Morgan Stanley plans floating-rate notes on 10-year ICE swap rate

By Sarah Lizee

Olympia, Wash., May 4 – Morgan Stanley plans to price floating-rate notes due May 23, 2025 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 equal to the 10-year U.S. dollar ICE swap rate plus 50 basis points, subject to a minimum interest rate of 0.25%. Interest will be payable quarterly.

The payout at maturity will be par.

The notes are non-callable.

Morgan Stanley & Co. LLC is the agent.

The notes (Cusip: 61760QLE2) will price on May 18 and settle on May 23.

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