By Marisa Wong
Madison, Wis., June 29 - Morgan Stanley priced $9 million of non-callable contingent coupon notes due June 30, 2031 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly. The coupon will be 7.5% for the first three years. After that, it will be 7.5% only if the index closes at or above 900 on the observation date for that month.
The payout at maturity will be par.
Morgan Stanley & Co. Inc. is the agent.
Issuer: | Morgan Stanley
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Issue: | Non-callable contingent coupon notes
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Underlying index: | S&P 500
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Amount: | $8,998,000
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Maturity: | June 30, 2031
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Coupon: | 7.5% for three years; then 7.5% only if index closes at or above 900 on relevant observation date; payable monthly
|
Price: | Par
|
Payout at maturity: | Par
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Pricing date: | June 27
|
Settlement date: | June 30
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Underwriter: | Morgan Stanley & Co. Inc.
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Fees: | 3.5%
|
Cusip: | 617482VB7
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