Morgan Stanley plans leveraged CMS curve, S&P 500 index-linked notes

By Jennifer Chiou

New York, Dec. 1 - Morgan Stanley plans to price leveraged CMS curve and S&P 500 index-linked notes due Dec. 27, 2026, according to an FWP with the Securities and Exchange Commission.

The coupon will be 10% for the first five years. After that, it will be 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 10% per year, multiplied by (b) the proportion of days on which the index closes at or above 750. Interest will be payable quarterly.

The payout at maturity will be par.

The notes (Cusip: 61745E3T6) will settle on Dec. 27.

Morgan Stanley & Co. LLC is the agent.

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