By Susanna Moon
Chicago, Aug. 24 – Morgan Stanley priced $2 million of floating-rate notes due Aug. 24, 2023 linked to the Consumer Price Index, according to an FWP filing with the Securities and Exchange Commission.
Interest will be equal to the year-over-year change in the CPI plus 100 basis points. Interest will be payable monthly and cannot be less than zero.
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 index: | Consumer Price Index
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| Amount: | $2 million
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| Maturity: | Aug. 24, 2023
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| Coupon: | Year-over-year change in CPI plus 100 bps, payable monthly
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| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | Aug. 21
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| Settlement date: | Aug. 24
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61760QLQ5
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