By Wendy Van Sickle
Columbus, Ohio, Sept. 27 – Morgan Stanley Finance LLC priced $2 million of callable fixed-rate step-up notes due Sept. 24, 2031, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The coupon is initially 1.8%. It will step up to 2% on Sept. 24, 2026, to 2.25% on Sept. 24, 2028 and to 2.6% on Sept. 24, 2030. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning Sept. 24, 2023.
Morgan Stanley & Co. LLC is the agent, and Morgan Stanley Wealth Management is handling distribution.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Callable fixed-rate step-up notes
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Amount: | $2 million
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Maturity: | Sept. 24, 2031
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Coupon: | 1.8%. It will step up to 2% on Sept. 24, 2026, to 2.25% on Sept. 24, 2028 and to 2.6% on Sept. 24, 2030; payable semiannually
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Call option: | At par on any interest payment date beginning Sept. 24, 2023
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | Sept. 22
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Settlement date: | Sept. 24
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Agent: | Morgan Stanley & Co. LLC
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Distribution: | Morgan Stanley Wealth Management
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Fees: | 1.1%
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Cusip: | 61766YFY2
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