Morgan Stanley plans variable-coupon notes on S&P GSCI Commodity

By Jennifer Chiou

New York, Feb. 1 - Morgan Stanley plans to price variable-coupon commodity-linked notes due December 2020 tied to the S&P GSCI Commodity Index-Excess Return, according to an FWP with the Securities and Exchange Commission.

For each annual coupon payment date, if the index value has risen from the initial level on the relevant determination date, investors will receive 8.25% to 8.75%. If, however, the index has declined on the determination date, investors will receive 2%.

The payout at maturity will be par plus any variable coupon payment.

The notes (Cusip: 617482QY3) will price and settle in February.

Morgan Stanley & Co. Inc. is the agent.

© 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.