By William Gullotti
Buffalo, N.Y., Jan. 24 – Morgan Stanley priced $28 million of floating-rate notes due Feb. 24, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be equal to the one-year U.S. dollar SOFR ICE swap rate plus 80 basis points. Interest will be payable monthly and cannot be less than 0.1%.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
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Issue: | Floating-rate notes
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Underlying rate: | One-year U.S. dollar SOFR ICE swap rate
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Amount: | $28 million
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Maturity: | Feb. 24, 2025
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Coupon: | One-year U.S. dollar SOFR ICE swap rate plus 80 bps with floor of 0.1%, payable monthly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | Jan. 22
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Settlement date: | Jan. 24
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.2%
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Cusip: | 61760QPP3
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