New Issue: Morgan Stanley prices $1 million fixed-to-floaters with 6% initial rate

By Angela McDaniels

Tacoma, Wash., Nov. 1 - Morgan Stanley priced $1 million of fixed-to-floating-rate notes due Nov. 17, 2017, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 6% for the first year. After that, it will be Libor plus 300 basis points, subject to a minimum rate of 3.25%. Interest is payable quarterly.

The payout at maturity will be par.

Morgan Stanley & Co. LLC is the agent with Morgan Stanley Smith Barney LLC as dealer.

Issuer:	Morgan Stanley
Issue:	Fixed-to-floating-rate notes
Amount:	$1 million
Maturity:	Nov. 17, 2017
Coupon:	6% initially; beginning Nov. 17, 2012, Libor plus 300 bps, subject to minimum rate of 3.25%; payable quarterly
Price:	Variable prices
Payout at maturity:	Par
Pricing date:	Oct. 28
Settlement date:	Nov. 17
Agent:	Morgan Stanley & Co. LLC with Morgan Stanley Smith Barney LLC as dealer
Fees:	1.5%
Cusip:	61745EW98

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