By Wendy Van Sickle
Columbus, Ohio, March 15 – Morgan Stanley Finance LLC priced $2.75 million of callable fixed-rate step-up notes due Aug. 28, 2025, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The coupon is initially 2.1% per year. It will step up to 2.3% on Feb. 28, 2024. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable annually at par starting on Feb. 28, 2024.
Morgan Stanley & Co. LLC is the agent with Morgan Stanley Wealth Management handling distribution.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Callable fixed-rate step-up notes
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Amount: | $2.75 million
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Maturity: | Aug. 28, 2025
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Coupon: | 2.1% annually, stepping up to 2.3% on Feb. 28, 2024; payable semiannually
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Call option: | Annually at par starting Feb. 28, 2024
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | Feb. 24
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Settlement date: | Feb. 28
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Agent: | Morgan Stanley & Co. LLC
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Distribution: | Morgan Stanley Wealth Management
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Fees: | 0.5%
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Cusip: | 61766YJA0
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