New Issue: Morgan Stanley prices $147.26 million more 15-year step-up notes at par

By Jennifer Chiou

New York, July 9 - Morgan Stanley priced another $147.26 million of senior fixed-rate step-up callable series F notes due July 9, 2025 with an initial coupon of 5%, according to a 424B2 filing with the Securities and Exchange Commission.

This brings the total issue amount to $500 million.

The notes have a coupon of 5% for the first three years. After that, the rate will be 6% from July 9, 2013 to July 9, 2016; 8% from July 9, 2016 to July 9, 2019; 10% from July 9, 2019 to July 9, 2022; and 12% from July 9, 2022 until maturity. Interest is payable semiannually.

The notes are callable at par beginning on July 9, 2011.

Morgan Stanley & Co. Inc. was the agent. The co-managers were Keefe, Bruyette & Woods and Blaylock Robert Van, LLC.

The financial services company is based in New York City.

Issuer:	Morgan Stanley
Issue:	Senior fixed-rate step-up callable series F notes
Amount:	$500 million	(up from $352,743,000)
Maturity:	July 9, 2025
Agent:	Morgan Stanley & Co. Inc.
Co-managers:	Keefe, Bruyette & Woods and Blaylock Robert Van, LLC
Coupon:	5% for three years, 6% from year four through year six, 8% from year seven through year nine, 10% from year nine through year 12 and 12% after that; payable semiannually
Price:	Par
Yield:	5% for three years, 6% from year four through year six, 8% from year seven through year nine, 10% from year nine through year 12 and 12% after that
Call:	At par starting July 9, 2011
Trade date:	July 6
Upsize date:	July 9
Settlement date:	July 9
Fees:	2.25%
Cusip:	61745EV81

© 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.