By Kiku Steinfeld
Chicago, Nov. 22 – Morgan Stanley Finance LLC priced $3.75 million of callable fixed-rate step-up notes due Nov. 18, 2029, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The coupon is initially 2%. It will step up to 2.2% on Nov. 18, 2026 and to 2.4% on Nov. 18, 2028. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable annually at par starting on Nov. 18, 2023.
Morgan Stanley & Co. LLC is the agent with Morgan Stanley Wealth Management handling distribution.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Callable fixed-rate step-up notes
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Amount: | $3.75 million
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Maturity: | Nov. 18, 2029
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Coupon: | 1.35%, stepping up to 2.2% on Nov. 18, 2026 and to 2.4% on Nov. 18, 2028; payable semiannually
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Call option: | Annually at par starting Nov. 18, 2023
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | Nov. 16
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Settlement date: | Nov. 18
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Agent: | Morgan Stanley & Co. LLC
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Distribution: | Morgan Stanley Wealth Management
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Fees: | 1%
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Cusip: | 61766YGX3
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