By Marisa Wong
Milwaukee, June 15 - Morgan Stanley priced $6 million of senior floating-rate notes due June 17, 2020 based on the 10-year Constant Maturity Treasury rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly and will be equal to the 10-year CMT rate plus a spread of 50 basis points, up to a maximum rate of 10% per year.
The payout at maturity will be par.
Morgan Stanley & Co. Inc. is the agent.
Issuer: | Morgan Stanley
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Issue: | Senior floating-rate notes
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Amount: | $6 million
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Maturity: | June 17, 2020
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Coupon: | 10-year CMT rate plus 50 bps, capped at 10%; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | June 14
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Settlement date: | June 17
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Agent: | Morgan Stanley & Co. Inc.
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Fees: | 2.25%
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Cusip: | 61745EQ61
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