By Angela McDaniels
Tacoma, Wash., Nov. 30 - Morgan Stanley priced $13 million of additional leveraged CMS curve and S&P 500 index-linked accrual notes due Nov. 30, 2031, according to a 424B2 filing with the Securities and Exchange Commission.
The additional notes bring the issue size to $14 million. The original $1 million of notes priced Nov. 14.
The coupon is 10% for the first five years. Beginning Nov. 30, 2016, it will be (a) seven times the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate, subject to a minimum of zero and a maximum of 11% per year, multiplied by (b) the proportion of days on which the index closes at or above 650. Interest is payable quarterly.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Leveraged CMS curve and S&P 500 index-linked accrual notes
|
| Amount: | $14 million, increased from $1 million
|
| Maturity: | Nov. 30, 2031
|
| Coupon: | Initially 10%; beginning Nov. 30, 2016, (a) seven times spread of 30-year CMS rate over two-year CMS rate, subject to minimum of zero and maximum of 11% per year, multiplied by (b) proportion of days on which index closes at or above 650; payable quarterly
|
| Price: | Variable prices
|
| Payout at maturity: | Par
|
| Pricing dates: | Nov. 14 for $1 million; Nov. 29 for $13 million
|
| Settlement date: | Nov. 30
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 4%
|
| Cusip: | 61745E2Z3
|
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