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Morgan Stanley plans fixed-to-floaters linked to leveraged CMS curve
By Marisa Wong
Morgantown, W.Va., March 20 – Morgan Stanley Finance LLC plans to price fixed-to-floating rate securities due March 24, 2037, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Interest is payable monthly and will be fixed at 8% per year for the first year. After that, interest will accrue at eight times the 30-year ICE swap rate minus the two-year ICE swap rate, up to a maximum rate of 10% per year and with a floor of zero.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
The notes will price on March 24.
The Cusip number is 61766YBE0.
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