By Angela McDaniels
Tacoma, Wash., Sept. 13 - Morgan Stanley priced $40 million of fixed-to-floating-rate notes due Sept. 30, 2017, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 5.5% for the first year. Beginning Sept. 30, 2012, the interest rate is Libor plus 250 basis points, subject to a minimum interest rate of 3.5% per year in each interest period. Interest is payable quarterly.
The payout at maturity will be par.
The issuer said it may increase the issue size prior to settlement.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
|
Issue: | Fixed-to-floating-rate notes
|
Amount: | $40 million
|
Maturity: | Sept. 30, 2017
|
Coupon: | Initially 5.5%; beginning Sept. 30, 2012, Libor plus 250 bps, subject to minimum rate of 3.5%; payable quarterly
|
Price: | Variable prices
|
Payout at maturity: | Par
|
Pricing date: | Sept. 9
|
Settlement date: | Sept. 30
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | Up to 1.25%
|
Cusip: | 61745EM99
|
© 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.