By William Gullotti
Buffalo, N.Y., May 25 – Morgan Stanley Finance LLC priced $1.5 million of callable fixed-rate step-up notes due April 29, 2025, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The coupon is initially 0.8%. It will step up to 0.95% on Oct. 29, 2023 and to 1.25% on Oct. 29, 2024. Interest is payable semiannually.
The notes will be callable at the issuer’s option at par on Oct. 29, 2023.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent with Morgan Stanley Wealth Management handling distribution.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Callable fixed-rate step-up notes
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Amount: | $1.5 million
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Maturity: | April 29, 2025
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Coupon: | 0.8%, stepping up to 0.95% on Oct. 29, 2023 and to 1.25% on Oct. 29, 2024; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on Oct. 29, 2023
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Pricing date: | Oct. 27, 2021
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Settlement date: | Oct. 29, 2021
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Agent: | Morgan Stanley & Co. LLC
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Distribution: | Morgan Stanley Wealth Management
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Fees: | 0.4%
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Cusip: | 61766YGR6
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