By Angela McDaniels
Tacoma, Wash., Aug. 24 - Morgan Stanley priced $6.5 million of floating-rate notes due Aug. 26, 2016 linked to the Consumer Price Index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is fixed at 3.5% per year for the first two years. Beginning Aug. 26, 2011, interest will equal 2% plus the year-over-year change in the index, subject to a floor of zero. Interest is payable monthly.
The payout at maturity will be par.
The issuer said it may increase the issue size prior to settlement.
Morgan Stanley & Co. Inc. is the agent.
Issuer: | Morgan Stanley
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Issue: | Floating-rate notes
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Underlying index: | Consumer Price Index
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Amount: | $6.5 million
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Maturity: | Aug. 26, 2016
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Coupon: | 3.5% for first two years; after that, 2% plus the year-over-year change in the index, subject to a floor of par; payable monthly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | Aug. 21
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Settlement date: | Aug. 26
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Agent: | Morgan Stanley & Co. Inc.
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Fees: | 1.25%
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