By Sarah Lizee
Olympia, Wash., June 23 – Morgan Stanley priced $3 million of fixed-to-floating notes due June 19, 2030 linked to the Consumer Price Index, according to an 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 4% until June 19, 2021. After that, the interest rate will be equal to the year-over-year change in the index. 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
|
| Issue: | Fixed-to-floating notes
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| Underlying index: | Consumer Price Index
|
| Amount: | $3 million
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| Maturity: | June 19, 2030
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| Coupon: | 4% initially; beginning June 19, 2021, equal to the year-over-year change in the index, subject to a 0% floor; payable monthly
|
| Price: | Par
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| Payout at maturity: | Par
|
| Pricing date: | June 17
|
| Settlement date: | June 19
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.15%
|
| Cusip: | 61760QMZ4
|
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