Morgan Stanley's 6.625% noncumulative preferreds admitted to NYSE

By Stephanie N. Rotondo

Phoenix, May 1 - Morgan Stanley's $500 million of 6.625% $25-par series G noncumulative perpetual preferred stock began trading on the New York Stock Exchange on Thursday.

The deal priced April 22. The ticker symbol is "MSPG."

Morgan Stanley & Co. LLC was the bookrunner.

When declared, dividends will be payable on the 15th day of January, April, July and October, beginning July 15.

The New York-based investment firm can redeem the preferreds on or after July 15, 2019 or in whole within 90 days of a regulatory capital treatment event at par plus accrued dividends.

Proceeds will be used for general corporate purposes.

© 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.