By Jennifer Chiou
New York, May 24 - Morgan Stanley priced another R$5 million of Brazilian real-denominated senior fixed-rate step-up securities due April 18, 2014, according to a 424B2 filing with the Securities and Exchange Commission.
The original R$3 million priced on April 6, and the issuer upsized to R$40 million on April 14. The total amount is now R$45 million.
The securities are real-denominated, but all interest payments and the payout at maturity will be converted into dollars at the exchange rate then in effect.
The coupon will be 9% for the first year, stepping up to 9.5% on April 18, 2012 and to 10% on April 18, 2013. Interest is payable annually.
The payout at maturity will be par.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Senior fixed-rate step-up securities
|
| Amount: | R$45 million (up from original R$3 million)
|
| Maturity: | April 18, 2014
|
| Coupon: | 9% in year one, stepping up to 9.5% on April 18, 2012 and to 10% on April 18, 2013; payable annually in dollars
|
| Price: | Par
|
| Payout: | Amount in dollars equal to par, converted at exchange rate then in effect
|
| Pricing date: | April 6 for R$3 million; April 14 for R$37 million; May 20 for R$5 million
|
| Settlement date: | April 18 for R$40 million; June 7 for R$5 million
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 1%
|
| Cusip: | 61747YCY9
|
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