By Sarah Lizee
Olympia, Wash., April 22 – Morgan Stanley priced $8 million of callable fixed-rate step-up notes due April 20, 2027, according to a 424B2 with the Securities and Exchange Commission.
The coupon is 2.5% initially, stepping up to 3% on April 20, 2024. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning Oct. 20.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
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Issue: | Callable fixed-rate step-up notes
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Amount: | $8 million
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Maturity: | April 20, 2027
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Coupon: | 2.5% initially, stepping up to 3% on April 20, 2024; payable semiannually
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Call option: | At par on any interest payment date beginning Oct. 20
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | April 17
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Settlement date: | April 20
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1%
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Cusip: | 61766YEW7
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