By Marisa Wong
Madison, Wis., Aug. 29 - Morgan Stanley priced $23.82 million of non-callable contingent coupon notes due Aug. 29, 2031 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
Interest is payable monthly. The coupon will be 8% for the first three years. After that, it will be 8% only if the index closes at or above 825 on the observation date for that month.
The payout at maturity will be par.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Non-callable contingent coupon notes
|
| Underlying index: | S&P 500
|
| Amount: | $23,817,000
|
| Maturity: | Aug. 29, 2031
|
| Coupon: | 8% for first year; then 8% only if index closes at or above 825 on relevant observation date; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Aug. 25
|
| Settlement date: | Aug. 30
|
| Underwriter: | Morgan Stanley & Co. Inc.
|
| Fees: | 3.5%
|
| Cusip: | 617482XG4
|
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