By Toni Weeks
San Diego, Sept. 28 - Morgan Stanley priced $1 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 coupon will be 6% for the first year. After that, the rate will be 6% per year for each day that the spread of the 30-year CMS swap rate over the two-year CMS rate is positive. Interest is payable monthly and cannot be less than zero.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | CMS curve-linked accrual notes
|
| Amount: | $1 million
|
| Maturity: | Oct. 14, 2018
|
| Coupon: | 6% for one year; thereafter, 6% per year for each day that the spread of 30-year CMS rate over two-year CMS rate is positive, floor of zero; payable monthly
|
| Price: | Variable prices
|
| Payout at maturity: | Par
|
| Pricing date: | Sept. 26
|
| Settlement date: | Oct. 14
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.5%
|
| Cusip: | 61745ER78
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
