By Angela McDaniels
Tacoma, Wash., Oct. 14 - Morgan Stanley priced an additional $5.5 million of CMS curve-linked accrual notes due Oct. 14, 2018 linked to the 30-year and two-year Constant Maturity Swap rates, according to a 424B2 filing with the Securities and Exchange Commission.
The original $1 million of notes priced Sept. 26. The issue size is now $6.5 million.
The coupon is 6.5% for the first year. After that, the rate will be 6.5% per year multiplied by the proportion of days on which the 30-year CMS swap rate is greater than or equal to the two-year CMS rate. Interest is payable monthly.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | CMS curve-linked accrual notes
|
| Amount: | $6.5 million, increased from $1 million
|
| Maturity: | Oct. 14, 2018
|
| Coupon: | 6.5% for one year; thereafter, 6.5% per year multiplied by proportion of days on which 30-year CMS swap rate is greater than or equal to two-year CMS rate; payable monthly
|
| Price: | Variable prices
|
| Payout at maturity: | Par
|
| Pricing dates: | Sept. 26 for $1 million; Oct. 13 for $5.5 million
|
| Settlement date: | Oct. 14
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.5%
|
| Cusip: | 61745ER78
|
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