By Angela McDaniels
Tacoma, Wash., Sept. 28 - Morgan Stanley priced $2 million of fixed-to-floating-rate notes due Oct. 14, 2018 linked to the Consumer Price Index, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 6% for the first year. Beginning Oct. 14, 2012, the interest rate will be equal to the year-over-year change in the Consumer Price Index plus 300 basis points, subject to a minimum rate of zero. Interest is payable monthly.
The payout at maturity will be par.
The issuer said it may increase the issue size prior to the settlement date, Oct. 14.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Fixed-to-floating-rate notes
|
| Underlying index: | Consumer Price Index
|
| Amount: | $2 million
|
| Maturity: | Oct. 14, 2018
|
| Coupon: | Initially 6%; after one year, year-over-year change in index plus 300 bps, subject to floor of zero; payable monthly
|
| Price: | Variable prices
|
| Payout at maturity: | Par
|
| Pricing date: | Sept. 26
|
| Settlement date: | Oct. 14
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.75%
|
| Cusip: | 61745EQ95
|
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