Correction: Morgan Stanley to redeem series J fixed-to-floating preferreds

A story in the March 16 editions of the Prospect News Preferred Stock Daily and Prospect News Investment Grade Daily incorrectly reported the series of noncumulative preferred stock that will be redeemed by Morgan Stanley on April 15. A corrected version of the story follows:

Columbus, Ohio, March 16 – Morgan Stanley plans to redeem its fixed-to-floating rate series J noncumulative preferred stock and the related depositary shares (Cusip: 617474AA9), according to a notice.

The preferreds will be redeemed on April 15 at $1,000 per share, which does not include the declared dividend payment of $10.12813 that will also be paid on the redemption date.

Morgan Stanley is a New York-based financial services company.

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