Morgan Stanley ups cap on coupon for floaters on 10-year CMT rate

By Marisa Wong

Milwaukee, May 10 - Morgan Stanley increased the maximum interest rate for its planned senior floating-rate notes due May 14, 2020 linked to the 10-year Constant Maturity Treasury rate to 10% from 9%, according to an FWP filing with the Securities and Exchange Commission.

Interest will be linked to the 10-year CMT rate, reset and payable quarterly beginning Aug. 14, with the cap of 10%.

The payout at maturity will be par.

The notes will price in May and settle on May 14.

Morgan Stanley & Co. Inc. is the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.