Morgan Stanley plans fixed-to-floaters tied to CMS curve, Russell 2000

By Toni Weeks

San Diego, March 11 - Morgan Stanley plans to price senior fixed-to-floating notes due March 31, 2031 linked to the 30-year and two-year Constant Maturity Swap rates and the Russell 2000 index, according to an FWP with the Securities and Exchange Commission.

The coupon will be 9% for the first year. After that, the rate will accrue at 9% for each day that the spread of the 30-year CMS rate over the two-year CMS rate is at least zero and the closing level of the Russell 2000 index is greater than or equal to 575. Interest is payable monthly.

The payout at maturity will be par.

The notes (Cusip: 61745E7D7) will price in March and settle on March 31.

Morgan Stanley & Co. Inc. will be the agent.

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