By Toni Weeks
San Diego, Nov. 23 - Morgan Stanley priced another $500,000 of CMS curve and Russell 2000 index-linked range accrual notes due Nov. 23, 2019, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $1.5 million, upsized from $1 million.
The coupon will accrue at 8% per year on each day that the 30-year Constant Maturity Swap rate is greater than or equal to the two-year CMS rate and the index closes at or above 500. Interest is payable monthly.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | CMS curve and Russell 2000 index-linked range accrual notes
|
| Amount: | $1.5 million, upsized from $1 million
|
| Maturity: | Nov. 23, 2019
|
| Coupon: | 8% for each day that spread of 30-year CMS rate over two-year CMS rate is at least zero and index closes at or above 500; payable monthly
|
| Price: | Variable prices
|
| Payout at maturity: | Par
|
| Pricing dates: | Nov. 3 for $1 million; Nov. 22 for $500,000
|
| Settlement date: | Nov. 23
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 5%
|
| Cusip: | 61745EZ38
|
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