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Morgan Stanley to price contingent coupon notes linked to S&P 500
By Marisa Wong
Madison, Wis., April 9 - Morgan Stanley plans to price non-callable contingent coupon notes due April 30, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly. The interest rate will be 8% per year but only if the index closes at or above 990 on the observation date for that month. Otherwise, no interest will be paid that month.
The payout at maturity will be par.
The notes (Cusip: 617482K29) are expected to price April 25 and settle April 30.
Morgan Stanley & Co. LLC is the agent.
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