By Jennifer Chiou
New York, April 15 - Morgan Stanley priced $8 million of leveraged callable CMS curve-linked notes April 23, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly and will accrue at 12% per year for the first three years. Beginning April 23, 2012, interest will equal 10 times the spread of the 10-year Constant Maturity Swap rate over the two-year CMS rate, with a minimum rate of 0%. The cap is 20%.
The notes are callable at par on any interest payment date beginning April 23, 2012.
If the notes are not called, the payout at maturity will be par.
Morgan Stanley & Co. Inc. is the agent.
Issuer: | Morgan Stanley
|
Issue: | Leveraged callable CMS curve-linked notes
|
Amount: | $8 million
|
Maturity: | April 23, 2024
|
Coupon: | 12% per year for first three years; beginning April 23, 2012, interest will be 10 times spread of 10-year CMS rate over two-year CMS rate, with floor of 0%, cap of 20%; payable quarterly
|
Price: | Par
|
Payout at maturity: | Par
|
Call option: | At par on interest payment dates beginning April 23, 2012
|
Pricing date: | April 13
|
Settlement date: | April 23
|
Agent: | Morgan Stanley & Co. Inc.
|
Fees: | 3%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.