By E. Janene Geiss
Philadelphia, Feb. 26 - Morgan Stanley increased to $55 million its offering of floating-rate notes due Feb. 23, 2037 linked to the 10-year constant-maturity swap (CMS) rate and the two-year CMS rate, according to an FWP filing with the Securities and Exchange Commission.
The deal priced on Feb. 14 at $20 million.
Until Feb. 23, 2012, the notes will bear interest at 8% annually. After that, the interest rate will be reset quarterly and will equal 4% plus the spread of the 10-year CMS rate over the two-year CMS rate, subject to a minimum annual interest rate of 3%.
Interest will be payable quarterly.
The notes will be callable at par on any interest payment date beginning Feb. 23, 2012.
| Issuer: | Morgan Stanley
|
| Issue: | Senior medium-term floating-rate notes, series F
|
| Amount: | $55 million (up from $20 million)
|
| Maturity: | Feb. 23, 2037
|
| Coupon: | 8% until Feb. 23, 2012; 4% plus the spread of the 10-year CMS rate over the two-year CMS rate thereafter, subject to a minimum annual interest rate of 3%
|
| Price: | Par
|
| Callable: | At par plus accrued interest beginning Feb. 23, 2012
|
| Payout at maturity: | Par plus accrued interest
|
| Pricing date: | Feb. 14
|
| Settlement date: | Feb. 23
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Agent fees: | 3%
|
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