Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers 3 > Headlines for 30-year U.S. dollar ICE swap rate > News item |
Morgan Stanley plans fixed-to-floaters tied to 30-year ICE swap rate
By Sarah Lizee
Olympia, Wash., March 7 – Morgan Stanley plans to price fixed-to-floating-rate notes due April 3, 2028 linked to the 30-year U.S. dollar ICE swap rate, according to an FWP filing with the Securities and Exchange Commission.
The interest rate is 4.2% until April 3, 2020. After that, the interest rate will be equal to the 30-year U.S. dollar ICE swap rate, subject to a minimum interest rate of 0.25%. Interest will be payable quarterly.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
The notes (Cusip: 61760QLA0) will price on March 30 and settle on April 3.
© 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.