By Toni Weeks
San Diego, Sept. 30 - Morgan Stanley priced another $4 million of CMS curve and Russell 2000 index-linked range accrual notes due Sept. 30, 2031, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $5 million. The first $1 million of the notes priced Sept. 14.
The coupon is 10% for the first year. Beginning Sept. 30, 2012, it will be 10% per year multiplied by the proportion of days on which the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate is greater than or equal to zero and the Russell 2000 index closes at or above 450. 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: | $5 million, upsized from $1 million
|
Maturity: | Sept. 30, 2031
|
Coupon: | 10% initially; beginning Sept. 30, 2012, 10% multiplied by proportion of days on which spread of 30-year CMS rate over two-year CMS rate is greater than or equal to zero and Russell 2000 index closes at or above 450; payable monthly
|
Price: | Variable prices
|
Payout at maturity: | Par
|
Pricing dates: | Sept. 14 for $1 million, Sept. 29 for $4 million
|
Settlement date: | Sept. 30
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | 4%
|
Cusip: | 61745EP54
|
© 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.