By Jennifer Chiou
New York, Oct. 16 - Morgan Stanley priced $3 million of range accrual notes due Oct. 20, 2024 linked to six-month Libor, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly and equals 7% per year multiplied by the proportion of days on which six-month Libor is 6.5% or less.
The payout at maturity will be par.
Beginning Jan. 20, 2010, the notes are subject to redemption at par plus accrued interest.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Range accrual notes
|
| Amount: | $3 million
|
| Maturity: | Oct. 20, 2024
|
| Coupon: | 7% per year multiplied by the proportion of days on which six-month Libor is 6.5% or less; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning Jan. 20, 2010
|
| Pricing date: | Oct. 14
|
| Settlement date: | Oct. 20
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 3%
|
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