By Susanna Moon
Chicago, July 15 - Morgan Stanley priced another $12 million of fixed-to-floating leveraged CMS curve-linked notes due July 31, 2028, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $13 million, up from $1 million.
The coupon will be 10% for the first year. After that, it will be 4.5 times the spread of the 30-year Constant Maturity Swap rate over the five-year CMS rate, up to a maximum rate of 10%. Interest is payable monthly and cannot be less than zero.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent with Morgan Stanley Smith Barney LLC as dealer.
| Issuer: | Morgan Stanley
|
| Issue: | Fixed-to-floating leveraged CMS curve-linked notes
|
| Amount: | $13 million, up from $1 million
|
| Maturity: | July 31, 2028
|
| Coupon: | 10% for first year; beginning July 31, 2014, (a) 4.5 times (b) spread of 30-year CMS rate over five-year CMS rate; subject to minimum rate of zero and maximum of 10% per year; payable monthly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Pricing date: | July 9 for $1 million, July 11 for $12 million
|
| Settlement date: | July 31
|
| Agent: | Morgan Stanley & Co. LLC with Morgan Stanley Smith Barney LLC as dealer
|
| Fees: | 3.5%
|
| Cusip: | 61760QCY8
|
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