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Morgan Stanley plans contingent coupon range accrual notes on S&P 500
By Toni Weeks
San Diego, Sept. 23 - Morgan Stanley plans to price contingent coupon range accrual notes due Oct. 13, 2017 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The coupon will be 6% per year multiplied by the proportion of days on which the index closes at or above 875. Interest is payable monthly.
The payout at maturity will be par.
The notes (Cusip: 617482YM0) are expected to price Oct. 7 and settle Oct. 13.
Morgan Stanley & Co. LLC will be the agent.
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