By Angela McDaniels
Tacoma, Wash., Feb. 10 - Morgan Stanley priced A$22 million of fixed-rate step-up securities due Feb. 13, 2017, according to a 424B2 filing with the Securities and Exchange Commission.
Principal and interest payments will be made in Australian dollars.
The interest rate is 6% in year one, 6.5% in year two, 6.75% in year three, 7% in year four and 8% in year five. Interest is payable semiannually.
The payout at maturity will be par.
Morgan Stanley & Co. International plc is the agent.
The issuer said it may increase the issue size prior to the settlement date but is not required to do so.
Issuer: | Morgan Stanley
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Issue: | Fixed-rate step-up securities
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Amount: | A$22 million
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Maturity: | Feb. 13, 2017
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Coupon: | 6% in year one, 6.5% in year two, 6.75% in year three, 7% in year four and 8% in year five; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | Feb. 8
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Settlement date: | Feb. 13
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Agent: | Morgan Stanley & Co. International plc
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Fees: | 1.6%
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ISIN: | XS0741298110
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