By Angela McDaniels
Tacoma, Wash., July 28 - Morgan Stanley priced $23 million of contingent coupon range accrual notes due July 29, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 7% for the first year. Beginning July 29, 2012, the interest rate will be 7% per year multiplied by the proportion of days on which the index closes at or above 950. Interest is payable quarterly.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Contingent coupon range accrual notes
|
| Underlying index: | S&P 500
|
| Amount: | $23 million
|
| Maturity: | July 29, 2026
|
| Coupon: | Initially 7%; beginning July 29, 2012, 7% per year multiplied by proportion of days on which index closes at or above 950; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | July 26
|
| Settlement date: | July 29
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3%
|
| Cusip: | 617482WN0
|
© 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.
