By Sarah Lizee
Olympia, Wash., May 8 – Morgan Stanley priced $10 million of callable fixed-rate step-up notes due May 8, 2030, according to a 424B2 with the Securities and Exchange Commission.
The coupon is 2.25% initially, stepping up to 2.5% on May 8, 2025 and 3% on May 8, 2028. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning May 8, 2021.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Callable fixed-rate step-up notes
|
| Amount: | $10 million
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| Maturity: | May 8, 2030
|
| Coupon: | 2.25% initially, stepping up to 2.5% on May 8, 2025 and 3% on May 8, 2028; payable semiannually
|
| Call option: | At par on any interest payment date beginning May 8, 2021
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | May 6
|
| Settlement date: | May 8
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.1%
|
| Cusip: | 61766YEZ0
|
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