By Angela McDaniels
Tacoma, Wash., Feb. 7 – Morgan Stanley priced $5.5 million of fixed-to-floating notes due Feb. 8, 2029 linked to the 10-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 5.5% per year for two years. Beginning Feb. 8, 2021, the interest rate will be the 10-year U.S. dollar ICE swap rate plus 15 basis points, subject to a minimum rate of 0.1% per year. Interest is payable quarter.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Fixed-to-floating notes
|
| Underlying rate: | 10-year U.S. dollar ICE swap rate
|
| Amount: | $5.5 million
|
| Maturity: | Feb. 8, 2029
|
| Coupon: | 5.5% per year for two years; beginning Feb. 8, 2021, 10-year U.S. dollar ICE swap rate plus 15 bps, subject to minimum rate of 0.1% per year; payable quarter
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Feb. 5
|
| Settlement date: | Feb. 8
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.75%
|
| Cusip: | 61760QML5
|
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