Morgan Stanley to offer six-month Libor range accrual notes due 2025

By Susanna Moon

Chicago, March 29 - Morgan Stanley plans to price senior floating-rate six-month Libor range accrual notes due April 15, 2025, according to an FWP filing with the Securities and Exchange Commission.

The coupon will be 7.5% for the first year, payable quarterly. After that, it will accrue at 7.5% for each day that six-month Libor is between 0% and 7%.

The notes will be callable beginning July 15 on any redemption date.

The payout at maturity will be par.

The notes will settle on April 15.

Morgan Stanley & Co. is the agent.

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