By Susanna Moon
Chicago, Nov. 13 - Morgan Stanley priced $15 million of six-month Libor and S&P 500 index-linked range accrual notes due Nov. 16, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 10% per year, payable quarterly, for the first year. After that, interest will accrue at 10% annually for each day that six-month Libor is between 0% and 7% and the S&P 500 index is at least 825.
The payout at maturity will be par.
The notes are callable at par on any interest payment date beginning Feb. 16, 2010.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Six-month Libor and S&P 500 index-linked range accrual notes
|
| Amount: | $15 million
|
| Maturity: | Nov. 16, 2024
|
| Coupon: | 10% per year for year; thereafter, 10% per year for each day that six-month Libor is less than 7% and the S&P 500 is at least 825; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates beginning Feb. 16, 2010
|
| Pricing date: | Nov. 12
|
| Settlement date: | Nov. 16
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 3%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
