By Susanna Moon
Chicago, March 9 - Morgan Stanley priced $1 million of CMS curve and S&P 500 index-linked range accrual notes due March 30, 2032, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 9% for the first two years. After that, interest will accrue at 9% for 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 950. Interest is payable quarterly.
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: | $1 million
|
| Maturity: | March 30, 2032
|
| Coupon: | 9% for two years; then 9% annualized per day that 30-year CMS rate is at or above two-year CMS rate and index closes at or above 950; payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Pricing dates: | March 7
|
| Settlement date: | March 30
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 4%
|
| Cusip: | 61760QAN4
|
© 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.
