By Marisa Wong
Madison, Wis., March 15 - Morgan Stanley priced $3.57 million of non-callable contingent coupon notes due March 16, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 7.5% for the first two years. After that, interest will accrue at an annualized rate of 7.5% for each day that the index closes at or above 975. Interest is payable monthly.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Non-callable contingent coupon notes
|
| Underlying index: | S&P 500
|
| Amount: | $3.57 million
|
| Maturity: | March 16, 2027
|
| Coupon: | 7.5% for first two years; after that, 7.5% for each day index closes at or above 975; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | March 13
|
| Settlement date: | March 16
|
| Underwriter: | Morgan Stanley & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 617482H23
|
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