By Andrea Heisinger
New York, Oct. 27 - Morgan Stanley reopened its 5.5% notes due July 28, 2021 on Thursday to add $1 billion, a market source said.
The notes (A2/A/A) were priced at 98.533 to yield 5.697% with a spread of Treasuries plus 335 basis points. The notes have a make-whole call at Treasuries plus 37.5 bps.
Total issuance is $2.5 billion, including $1.5 billion priced on July 21 at 250 bps over Treasuries.
Morgan Stanley & Co. LLC was the bookrunner.
The financial services company is based in New York City.
| Issuer: | Morgan Stanley
|
| Issue: | Senior notes, reopened
|
| Amount: | $1 billion
|
| Maturity: | July 28, 2021
|
| Bookrunner: | Morgan Stanley & Co. LLC
|
| Coupon: | 5.5%
|
| Price: | 98.533
|
| Yield: | 5.697%
|
| Spread: | Treasuries plus 335 bps
|
| Call: | Make-whole at Treasuries plus 37.5 bps
|
| Trade date: | Oct. 27
|
| Settlement date: | Nov. 1
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A
|
| Total issuance: | $2.5 billion, including $1.5 billion sold on July 21 at 250 bps spread
|
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