By Susanna Moon
Chicago, Jan. 6 - Morgan Stanley priced $1 million of CMS curve and Russell 2000 index-linked range accrual notes due Jan. 24, 2026, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 9% for the first year. After that, the rate will accrue at 9% per year on each day that the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate is at least zero and the level of the Russell 2000 is at least 675. Interest is payable monthly.
The payout at maturity will be par.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | CMS curve and Russell 2000 index-linked range accrual notes
|
| Amount: | $1 million
|
| Maturity: | Jan. 24, 2026
|
| Coupon: | 9% for one year; thereafter, 9% on days that 30-year CMS rate is at or above two-year CMS rate and Russell 2000 is at least 675; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Jan. 4
|
| Settlement date: | Jan. 24
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 4%
|
| Cusip: | 61745E2R1
|
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