Published on 3/2/2012 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.09 million more CMS curve and S&P 500 range accrual notes
By Toni Weeks
San Diego, March 2 - Morgan Stanley priced another $2.09 million of CMS curve and S&P 500 index-linked range accrual notes due March 2, 2027, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $7.5 million. The initial $5,409,000 of the notes priced Feb. 28.
Interest will accrue at 7.75% 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 900. Interest is payable quarterly.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
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Issue: | CMS curve and S&P 500 index-linked range accrual notes
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Amount: | $7.5 million, increased from $5,409,000
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Maturity: | March 2, 2027
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Coupon: | 7.75% 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 900; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing dates: | Feb. 28 for $5,409,000; March 1 for $2,091,000
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Settlement date: | March 2
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3.5%
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Cusip: | 61760QAF1
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