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Morgan Stanley plans floaters due 2019 linked to 10-year CMS rate
By Jennifer Chiou
New York, Oct. 23 - Morgan Stanley plans to price floating-rate notes due Nov. 9, 2019 linked to the 10-year Constant Maturity Swap rate, according to an FWP filing with the Securities and Exchange Commission.
The interest rate will equal the 10-year CMS rate, subject to a minimum rate of 3% per year and a maximum rate of 10% per year in each interest period. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will price in November and settle on Nov. 9.
Morgan Stanley & Co. Inc. is the agent.
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