By Susanna Moon
Chicago, May 30 - Morgan Stanley priced another $17 million of leveraged CMS curve and S&P 500 index-linked notes due May 31, 2027, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $18 million, up from $1 million.
The coupon is 10% for three years. Beginning May 31, 2015, it will be six times the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate, subject to a minimum of zero and a maximum of 10% per year, multiplied by the proportion of days on which the index closes at or above 700. 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: | Leveraged CMS curve and S&P 500 index-linked notes
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Amount: | $18 million, up from $1 million
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Maturity: | May 31, 2027
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Coupon: | 10% initially; beginning May 31, 2015, six times spread of 30-year CMS rate over two-year CMS rate, subject to minimum of zero and maximum of 10%, multiplied by proportion of days on which index closes at or above 700; payable quarterly
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Price: | Variable
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Payout at maturity: | Par
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Pricing date: | May 3
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Upsized: | May 25
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Settlement date: | May 31
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3.5%
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Cusip: | 61760QBJ2
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