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 changes fees for $14 million leveraged CMS notes
By Angela McDaniels
Tacoma, Wash., Aug. 4 - Morgan Stanley changed the fees for its $14 million of leveraged CMS notes due Aug. 12, 2031 to 4% from 3.5%, according to an amended 424B2 filing with the Securities and Exchange Commission.
As previously reported, the coupon will be 10% for the first year. Beginning Aug. 12, 2012, the interest rate will be 2.7 times the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate, subject to a floor of minimum rate of zero and a maximum rate of 10%. Interest is payable quarterly.
The payout at maturity will be par.
The issuer said it may increase the issue size prior to the settlement date but is not required to do so.
The notes (Cusip: 61745E4S7) priced July 27 and will settle Aug. 12.
Morgan Stanley & Co. LLC is 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.