By Jennifer Chiou
New York, July 29 - Morgan Stanley upsized its CMS curve and Russell 2000 index-linked range accrual notes due July 29, 2031 to $10 million from $1 million, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 8.5% for the first three years. After that, it will accrue at 8.5% for 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 Russell 2000 index is at least 600.
Interest is payable monthly.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | CMS curve and Russell 2000 index-linked range accrual notes
|
| Amount: | $10 million (upsized from $1 million)
|
| Maturity: | July 29, 2031
|
| Coupon: | 8.5% for three years; then, 8.5% for each day that 30-year CMS rate is at or above two-year CMS rate and Russell 2000 is at least 600; payable monthly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Pricing date: | July 13
|
| Upsize date: | July 28
|
| Settlement date: | July 29
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 4%
|
| Cusip: | 61745E3S8
|
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