By Susanna Moon
Chicago, March 16 - Morgan Stanley priced an additional $49 million of fixed-to-floating notes due March 16, 2017, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $50 million, up from $1 million at pricing. The coupon was also revised for the fixed-rate portion in a March 12 filing.
The coupon is 5.25% for the first year, up from 5% at pricing. After that it will be equal to Libor plus 200 basis points, subject to a minimum rate of 2.5%.
Interest is payable quarterly.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Fixed-to-floating notes
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| Amount: | $50 million, up from $1 million
|
| Maturity: | March 16, 2017
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| Coupon: | 5.25% initially; beginning March 16, 2014, Libor plus 200 bps, floor of 2.5%; payable quarterly
|
| Price: | Variable
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| Payout at maturity: | Par
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| Pricing date: | March 1 for $1 million, March 15 for $49 million
|
| Settlement date: | March 16
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.25%
|
| Cusip: | 61760QAM6
|
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