By Susanna Moon
Chicago, March 11 - Morgan Stanley priced another $50 million of senior fixed-to-floating notes due Feb. 19, 2015, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $300 million. The initial $125 million of the notes priced Feb. 13, a $50 million tranche priced on Feb. 15, and a $75 million tranche priced Feb. 19.
As previously noted, the coupon will be 1.3% for the first year. After that, it will be equal to Libor plus 75 basis points, subject to a maximum rate of 5%. Interest is payable quarterly.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent. Morgan Stanley Smith Barney LLC will handle distribution.
| Issuer: | Morgan Stanley
|
| Issue: | Senior fixed-to-floating-rate notes
|
| Amount: | $300 million, upsized from $125 million
|
| Maturity: | Feb. 19, 2015
|
| Coupon: | 1.3% initially; beginning Feb. 19, 2014, Libor plus 75 bps, subject to cap of 5% per year; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing dates: | Feb. 13 for $125 million; Feb. 15 for $50 million; Feb. 19 for $75 million; March 7 for $50 million
|
| Settlement date: | Feb. 19
|
| Agent: | Morgan Stanley & Co. LLC with Morgan Stanley Smith Barney LLC as dealer
|
| Fees: | 1.25%
|
| Cusip: | 61760QCL6
|
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