By Marisa Wong
Madison, Wis., May 30 - Morgan Stanley priced an additional $2 million of fixed-to-floating-rate notes due May 30, 2017, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $15 million. The issuer priced an initial $13 million of the notes on May 24.
The interest rate is 6% for the first year. Beginning May 30, 2014, the interest rate will be Libor plus 200 basis points, subject to a minimum rate of 2.5% per year. Interest is payable quarterly.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Fixed-to-floating-rate notes
|
| Amount: | $15 million (up from $13 million)
|
| Maturity: | May 30, 2017
|
| Coupon: | 6% for first year; beginning May 30, 2014, Libor plus 200 bps, subject to minimum rate of 2.5% per year; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | May 24 for $13 million; May 29 for $2 million
|
| Settlement date: | May 30
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.5%
|
| Cusip: | 61760QBK9
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
