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Morgan Stanley to price leveraged callable CMS curve-linked notes
By Marisa Wong
Milwaukee, March 11 - Morgan Stanley plans to price leveraged callable CMS curve-linked notes due March 30, 2030, according to an FWP filing with the Securities and Exchange Commission.
Interest will be fixed at 12% per year for the first year. After that, the rate will be four times the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate, subject to a cap of 20% per year and a floor of 0% in any interest period. Interest will be payable quarterly.
The payout at maturity will be par.
The notes are callable on any interest payment date beginning March 30, 2011.
The notes will price in March and settle on March 30.
Morgan Stanley & Co. Inc. is the agent.
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