By Sarah Lizee
Olympia, Wash., May 10 – Morgan Stanley priced $2 million of floating-rate notes due May 11, 2028 linked to the Consumer Price Index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be equal to the year-over-year change in the index plus 150 basis points, subject to a minimum rate of 0%. Interest is payable monthly.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
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Issue: | Floating-rate notes
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Underlying index: | Consumer Price Index
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Amount: | $2 million (may be increased prior to settlement date)
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Maturity: | May 11, 2028
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Coupon: | Equal to the year-over-year change in the Consumer Price Index plus 150 bps, subject to a 0% floor; payable monthly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | May 8
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Settlement date: | May 11
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.5%
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Cusip: | 61760QLF9
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