Published on 12/7/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 floating rate notes on two-year SOFR ICE rate
Chicago, Dec. 7 – Morgan Stanley priced $250,000 of floating rate notes due Oct. 31, 2025 linked to the two-year U.S. Dollar SOFR ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be equal to the two-year ICE rate, subject to a floor of 4% and reset quarterly. Interest will be paid quarterly.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
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Issue: | Floating rate notes
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Underlying rate: | Two-year U.S. Dollar SOFR ICE swap rate
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Amount: | $250,000
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Maturity: | Oct. 31, 2025
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Coupon: | Two-year dollar SOFR ICE rate, subject to floor of 4%, reset quarterly; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | Oct. 27, 2022
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Settlement date: | Oct. 31, 2022
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1%
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Cusip: | 61760QNN0
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