By Angela McDaniels
Tacoma, Wash., June 15 – Morgan Stanley priced $3 million of floating-rate notes due June 17, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is Libor plus 100 basis points, subject to a maximum interest rate of 6% per year in years one through five and 6.5% per year in years six and seven. Interest is payable quarterly.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
The issuer said it may increase the issue size prior to the settlement date, June 17, but is not required to do so.
Issuer: | Morgan Stanley
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Issue: | Floating-rate notes
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Amount: | $3 million
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Maturity: | June 17, 2022
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Coupon: | Libor plus 100 bps, subject to maximum interest rate of 6% per year in years one through five and 6.5% per year in years six and seven; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | June 12
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Settlement date: | June 17
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.25%
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Cusip: | 61760QGL2
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