By Angela McDaniels
Tacoma, Wash., April 13 - Morgan Stanley priced $16 million of six-month Libor range accrual notes due April 15, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 7.5% for the first year. Beginning April 15, 2011, the interest rate will be 7.5% per year multiplied by the proportion of days on which six-month Libor is 7% or less. 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
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Issue: | Six-month Libor range accrual notes
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Amount: | $16 million
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Maturity: | April 15, 2025
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Coupon: | Initially 7.5%; beginning April 15, 2011, 7.5% per year multiplied by proportion of days on which six-month Libor is 7% or less; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | April 9
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Settlement date: | April 15
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Agent: | Morgan Stanley & Co. Inc.
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Fees: | 2.75%
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Cusip: | 61745E6H9
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