By Marisa Wong
Madison, Wis., May 31 - Morgan Stanley priced A$500,000 of fixed-to-floating securities due May 31, 2016, according to a 424B2 filing with the Securities and Exchange Commission.
The interest payments and payout at maturity will be converted into U.S. dollars using the exchange rate then in effect.
The interest rate will be 10% for the first year. Beginning May 31, 2013, the interest rate will be Libor plus 400 basis points. Interest will be payable quarterly.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Australian dollar-denominated fixed-to-floating securities
|
| Amount: | A$500,000
|
| Maturity: | May 31, 2016
|
| Coupon: | 10% initially; beginning May 31, 2013, Libor plus 400 bps; payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Pricing date: | May 29
|
| Settlement date: | May 31
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.5%
|
| Cusip: | 61760QBL7
|
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