By Angela McDaniels
Tacoma, Wash., March 15 - Morgan Stanley reopened its Chinese renminbi-denominated fixed-rate step-up notes due Feb. 11, 2016 to add RMB 45 million, according to a 424B2 filing with the Securities and Exchange Commission.
The total issue size is now RMB 395 million. The reopened notes will accrue interest from Feb. 11, which was the settlement date for the original RMB 350 million of notes.
All interest payments and the payout at maturity will be converted into dollars at the exchange rate then in effect.
The interest rate is 0.5% for the first year. After that, the rate will step up by 25 basis points each year. Interest is payable annually.
The payout at maturity will be par.
The issuer said it will apply to list the notes on the London Stock Exchange.
Morgan Stanley & Co. International plc is the underwriter.
| Issuer: | Morgan Stanley
|
| Issue: | Chinese renminbi-denominated fixed-rate step-up notes
|
| Amount: | RMB 395 million, including RMB 45 million add-on
|
| Maturity: | Feb. 11, 2016
|
| Coupon: | 0.5% in year one, 0.75% in year two, 1% in year three, 1.25% in year four and 1.5% in year five; payable annually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing dates: | Jan. 24 for RMB 250 million, Jan. 28 for RMB 80 million, Feb. 10 for RMB 20 million and March 10 for RMB 45 million
|
| Settlement dates: | Feb. 11 for RMB 350 million and March 17 for RMB 45 million
|
| Agent: | Morgan Stanley & Co. International plc
|
| Fees: | 0.5%
|
| Common code: | 058615234
|
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