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Morgan Stanley amends fixed-to-floaters due 2017 with 5% initial rate
By Susanna Moon
Chicago, June 6 - Morgan Stanley amended the floating-rate terms of its senior fixed-to-floating notes due June 20, 2017, according to an FWP filing with the Securities and Exchange Commission.
The coupon will initially be 5%. Beginning June 20, 2014, the rate will be Libor plus 325 basis points, with a minimum rate of 4%. Originally, the floating rate was set at Libor plus 300 bps, with a 3.5% floor.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
The notes will settle on June 20.
The Cusip number is 61760QBP8.
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