Published on 4/29/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.1 million fixed-rate step-up notes with 5% start rate
By William Gullotti
Buffalo, N.Y., April 29 – Morgan Stanley priced $1.1 million of fixed-rate step-up notes due April 25, 2031, according to a 424B2 with the Securities and Exchange Commission.
The coupon is initially 5%. It will step up to 5.1% on April 25, 2029 and to 5.15% on April 25, 2030. Interest is payable semiannually.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | Morgan Stanley
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| Issue: | Fixed-rate step-up notes
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| Amount: | $1.1 million
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| Maturity: | April 25, 2031
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| Coupon: | 5%, stepping up to 5.1% on April 25, 2029 and to 5.15% on April 25, 2030; payable semiannually
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| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | April 24
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| Settlement date: | April 26
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| Agent: | Morgan Stanley & Co. LLC
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| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 1.25%
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| Cusip: | 61760QQJ6
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