By Susanna Moon
Chicago, Jan. 31 - Morgan Stanley priced another $2.5 million of CMS curve and S&P 500 index-linked range accrual notes due Jan. 31, 2032, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $3.5 million from $1 million.
The coupon is 9% for the first year. After that, it will accrue at 9% per year on each day that the 30-year Constant Maturity Swap rate is at or above the two-year CMS rate and the index closes at or above 690. 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 S&P 500 index-linked range accrual notes
|
| Amount: | $3.5 million, increased from $1 million
|
| Maturity: | Jan. 31, 2032
|
| Coupon: | 9% for one year; then 9% per year multiplied by proportion of days on which 30-year CMS rate is at or above two-year CMS rate and index closes at or above 690; payable monthly
|
| Price: | Variable prices
|
| Payout at maturity: | Par
|
| Pricing dates: | Jan. 10 for $1 million, Jan. 30 for $2.5 million
|
| Settlement date: | Jan. 31
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 4%
|
| Cusip: | 61745E5M9
|
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