Morgan Stanley trusts to redeem $2.83 billion of capital securities

By Angela McDaniels

Tacoma, Wash., July 19 – Morgan Stanley announced the upcoming redemption of $2,825,000,000 of capital securities.

Morgan Stanley Capital Trust III will redeem all $880 million liquidation amount of its 6.25% capital securities on Aug. 18.

Morgan Stanley Capital Trust IV will redeem all $620 million liquidation amount of its 6.25% capital securities on Aug. 18.

Morgan Stanley Capital Trust V will redeem all $500 million liquidation amount of its 5.75% capital securities on Aug. 18.

Morgan Stanley Capital Trust VIII will redeem all $825 million liquidation amount of its 6.45% capital securities on Aug. 3.

In each case, the redemption price will be equal to the $25 liquidation amount per capital security plus accumulated distributions up to but excluding the redemption date.

The capital securities are being redeemed, along with the common securities issued by each trust and held by Morgan Stanley, as a result of the concurrent redemption in their entirety of the junior subordinated debentures that underlie the capital securities, according to a company news release.

Morgan Stanley is a financial services firm based in New York.

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