By Marisa Wong
Madison, Wis., Nov. 17 - Morgan Stanley priced $4 million of CMS curve and S&P 500 index-linked range accrual notes due Nov. 18, 2019, according to a 424B2 filing with the Securities and Exchange Commission.
The issuer said it may increase the size of the issue before the settlement date.
The coupon will be 8% 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 900. Interest will be payable quarterly.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | CMS curve and S&P 500 index-linked range accrual notes
|
| Amount: | $4 million
|
| Maturity: | Nov. 18, 2019
|
| Coupon: | 8% 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 900; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Nov. 15
|
| Settlement date: | Nov. 18
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.25%
|
| Cusip: | 61745EY54
|
© 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.
