By Jennifer Chiou
New York, Oct. 4 - Morgan Stanley priced $1 million of CMS curve and S&P 500 index-linked range accrual notes due Oct. 27, 2031, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 10% for the first year. After that, it will be 10% per year multiplied by the proportion of days on which the 30-year Constant Maturity Swap rate is greater than or equal to the two-year CMS rate and the index closes at or above 850. Interest will be payable monthly.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
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Issue: | CMS curve and S&P 500 index-linked range accrual notes
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Amount: | $1 million
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Maturity: | Oct. 27, 2031
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Coupon: | 10% for the first year; after that, 10% per year multiplied by the proportion of days on which 30-year Constant Maturity Swap rate is greater than or equal to the two-year CMS rate and the index closes at or above 850; payable monthly
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Price: | Variable
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Payout at maturity: | Par
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Pricing date: | Sept. 30
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Settlement date: | Oct. 27
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 5%
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Cusip: | 61745EV57
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