By Angela McDaniels
Tacoma, Wash., Jan. 26 - Morgan Stanley priced $18 million of six-month Libor and S&P 500 index range accrual notes, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is fixed at 9.5% for the first year. Beginning Jan. 27, 2011, the interest rate will be 9.5% per year multiplied by the proportion of days on which six-month Libor is 6.5% or less and the S&P 500 closes at or above 875. Interest is payable quarterly.
The payout at maturity will be par.
The notes are callable at par on any interest payment date.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Six-month Libor and S&P 500 index range accrual notes
|
| Amount: | $18 million
|
| Maturity: | Jan. 27, 2025
|
| Coupon: | Initially 9.5%; beginning Jan. 27, 2011, 9.5% per year multiplied by proportion of days on which six-month Libor is 6.5% or less and S&P 500 closes at or above 875; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date
|
| Pricing date: | Jan. 22
|
| Settlement date: | Jan. 27
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 3.5%
|
| Cusip: | 61745ET50
|
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