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Morgan Stanley plans to price fixed-to-floating rate notes tied to CPI
By Emma Trincal
New York, April 22 – Morgan Stanley Finance LLC plans to price fixed-to-floating rate notes due April 28, 2032 linked to the Consumer Price Index, according to an FWP filing with the Securities and Exchange Commission.
The interest rate will be 7% per annum for the first year. After that, the interest rate will be equal to the year-over-year change in the index. Interest, which is payable monthly, cannot be less than zero and will be capped at 7% per annum.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
The notes will settle on April 28.
The Cusip number is 61760QNG5.
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