By Susanna Moon
Chicago, Aug. 28 – Morgan Stanley priced $10 million of fixed-rate step-up notes due Aug. 27, 2030, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 4.125% for the first six years, stepping up to 4.75% for the seventh year. Interest is payable semiannually.
The notes are callable at par any semiannual redemption date after one year.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent and Morgan Stanley Wealth Management is handling distribution.
| Issuer: | Morgan Stanley
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| Issue: | Fixed-rate step-up callable notes
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| Amount: | $10 million
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| Maturity: | Aug. 27, 2030
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| Coupon: | 4.125% initially, stepping up to 4.75% on Aug. 27, 2024; payable semiannually
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| Price: | Par of $10
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| Call option: | At par any semiannual redemption date beginning Aug. 27, 2019
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| Payout at maturity: | Par
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| Pricing date: | Aug. 21
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| Settlement date: | Aug. 27
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.65%
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| Cusip: | 61760QLS1
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