By Wendy Van Sickle
Columbus, Ohio, Oct. 21 – Morgan Stanley Finance LLC priced $3 million of callable fixed-rate step-up notes due Oct. 19, 2029, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The coupon is initially 1.75%. It will step up to 2% on Oct. 19, 2025 and to 2.25% on Oct. 19, 2027. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable annually at par starting on Oct. 19, 2023.
Morgan Stanley & Co. LLC is the agent, and Morgan Stanley Wealth Management is handling distribution.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Callable fixed-rate step-up notes
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Amount: | $3 million
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Maturity: | Oct. 19, 2029
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Coupon: | 1.75%, stepping up to 2% on Oct. 19, 2025 and to 2.25% on Oct. 19, 2027; payable semiannually
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Call option: | Annually at par starting Oct. 19, 2023
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | Oct. 15
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Settlement date: | Oct. 19
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Agent: | Morgan Stanley & Co. LLC
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Distribution: | Morgan Stanley Wealth Management
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Fees: | 1.05%
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Cusip: | 61766YGD7
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