By Jennifer Chiou
New York, April 28 - Morgan Stanley priced another $17 million of leveraged callable CMS curve linked notes due April 29, 2030 to upsize the total to $18 million, according to a 424B2 filing with the Securities and Exchange Commission.
Interest on the notes is fixed at 12% for the first two years. Beginning April 29, 2012, the interest rate will be four times the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate, subject to a floor of zero. Interest is payable quarterly.
The payout at maturity will be par.
Beginning April 29, 2012, the notes are callable at par on any interest payment date.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Leveraged callable CMS curve linked notes
|
| Amount: | $18 million (upsized from $1 million)
|
| Maturity: | April 29, 2030
|
| Coupon: | Initially 12%; beginning April 29, 2012, four times spread of 30-year CMS rate over two-year CMS rate, with floor of zero; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates from April 29, 2012 onward
|
| Pricing date: | April 23
|
| Upsize date: | April 28
|
| Settlement date: | April 29
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 3.5%
|
| Cusip: | 61745EE23
|
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