Morgan Stanley plans CMS curve, Russell 2000-tied range accrual notes

By Susanna Moon

Chicago, Sept. 15 - Morgan Stanley plans to price CMS curve and Russell 2000 index-linked range accrual notes due Sept. 30, 2031, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 10% for the first year. After that, it will accrue at 10% for each day that the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate is greater than or equal to zero and the closing level of the Russell 2000 index is at least 450. Interest is payable monthly.

The payout at maturity will be par.

Morgan Stanley & Co. LLC is the agent.

The notes will settle on Sept. 30.

The Cusip number is 61745EP54.

© 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.