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Morgan Stanley plans leveraged CMS curve notes due 2031 with 10% cap
By Susanna Moon
Chicago, July 26 - Morgan Stanley plans to price leveraged CMS curve notes due Aug. 12, 2031, according to an FWP filing with the Securities and Exchange Commission.
The coupon will be 10% for the first year. After that, it will accrue at 2.7 times the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate, up to a maximum rate of 10% per year in any interest payment period. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
The notes will settle on Aug. 12.
The Cusip number is 61745E4S7.
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