By Wendy Van Sickle
Columbus, Ohio, March 1 – Morgan Stanley priced $3.2 million of floating-rate notes due Feb. 28, 2024 linked to the Consumer Price index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a coupon equal to the year-over-year change in the index plus 120 basis points, subject to a minimum of zero.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Floating-rate notes
|
| Underlying index: | Consumer Price index
|
| Amount: | $3.2 million
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| Maturity: | Feb. 28, 2020
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| Coupon: | Year-over-year change in index plus 120 bps, subject to minimum of zero; payable monthly
|
| Price: | Par
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| Payout at maturity: | Par
|
| Pricing date: | Feb. 26
|
| Settlement date: | Feb. 28
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.5%
|
| Cusip: | 61760QMN1
|
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