Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers 3 > Headlines for 30-year Constant Maturity Swap rate > News item |
Morgan Stanley plans 20-year CMS curve, S&P 500 range accrual notes
By Toni Weeks
San Diego, March 18 - Morgan Stanley plans to price CMS curve and S&P 500 index-linked range accrual notes due March 31, 2031, according to an FWP filing with the Securities and Exchange Commission.
The coupon will be 8% for the first year. After that, interest will accrue at 8% per year on each day that the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate is at least zero and the level of the S&P 500 index is at least 675.
Interest is payable monthly.
The payout at maturity will be par.
The notes (Cusip: 61745E6X4) are expected to price in March and settle on March 31.
Morgan Stanley & Co. is in the agent.
© 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.