By Jennifer Chiou
New York, Oct. 20 - Morgan Stanley priced an additional $1 million of fixed-to-floating-rate notes due Oct. 14, 2018 linked to the Consumer Price Index, according to a 424B2 filing with the Securities and Exchange Commission.
The original $2 million of notes priced on Sept. 26, and the issue was upsized to $5 million on Oct. 13. The total amount is now $6 million.
The coupon is 7% for the first year. Beginning on Oct. 14, 2012, the interest rate will be equal to the year-over-year change in the Consumer Price Index plus 350 basis points, subject to a minimum rate of zero. Interest is payable monthly.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Fixed-to-floating-rate notes
|
| Underlying index: | Consumer Price Index
|
| Amount: | $6 million (increased from original $2 million)
|
| Maturity: | Oct. 14, 2018
|
| Coupon: | Initially 7%; after one year, year-over-year change in index plus 350 bps, subject to floor of zero; payable monthly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Pricing dates: | Sept. 26 for $2 million; Oct. 13 for $3 million; Oct. 20 for $1 million
|
| Settlement date: | Oct. 14 for $5 million; Oct. 25 for $1 million
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.75%
|
| Cusip: | 61745EQ95
|
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