Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers 3 > Headlines for 30-year Constant Maturity Swap rate > News item |
Morgan Stanley plans convertible accrual notes on CMS, Russell 2000
By Jennifer Chiou
New York, Jan. 25 - Morgan Stanley plans to price CMS curve and Russell 2000 index-linked range accrual notes due Feb. 11, 2031, according to an FWP with the Securities and Exchange Commission.
The interest rate is fixed at 10% for the first year. Beginning Feb. 11, 2012, interest will accrue at 10% for each day that the 30-year Constant Maturity Swap rate is greater than or equal to the two-year CMS rate and the Russell 2000 closes at or above 615. Interest is payable monthly.
The payout at maturity will be par.
The notes (Cusip: 61745E3K5) will settle on Feb. 11.
Morgan Stanley & Co. Inc. is the agent.
© 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.