By Susanna Moon
Chicago, April 16 - Morgan Stanley priced another $8 million of fixed-to-floating notes due April 16, 2016, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $10 million, up from $2 million.
The coupon will be 5% for the first year. After that it will be Libor plus 175 basis points, with a minimum rate of 2%. Interest is payable quarterly.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
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Issue: | Fixed-to-floating notes
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Amount: | $10 million, up from $2 million
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Maturity: | April 16, 2016
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Coupon: | 5% initially; beginning April 16, 2013, Libor plus 175 bps, floor of 2%; payable quarterly
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Price: | Variable
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Payout at maturity: | Par
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Pricing date: | April 3 for $2 million; April 13 for $8 million
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Settlement date: | April 16
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.25%
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Cusip: | 61760QAX2
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