By Toni Weeks
San Diego, Nov. 23 - Morgan Stanley priced another $500,000 of CMS curve and Russell 2000 index-linked range accrual notes due Nov. 23, 2019, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $1.5 million, upsized from $1 million.
The coupon will accrue at 8% per year on each day that 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 500. Interest is 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 Russell 2000 index-linked range accrual notes
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Amount: | $1.5 million, upsized from $1 million
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Maturity: | Nov. 23, 2019
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Coupon: | 8% for each day that spread of 30-year CMS rate over two-year CMS rate is at least zero and index closes at or above 500; payable monthly
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Price: | Variable prices
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Payout at maturity: | Par
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Pricing dates: | Nov. 3 for $1 million; Nov. 22 for $500,000
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Settlement date: | Nov. 23
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 5%
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Cusip: | 61745EZ38
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