By Marisa Wong
Madison, Wis., Jan. 13 - Morgan Stanley priced an additional $7 million of leveraged CMS curve and S&P 500 index-linked notes due Jan. 13, 2032, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total size of the issue to $10 million. Morgan Stanley priced an initial $3 million of the notes on Jan. 4.
The coupon is 10% for the first five years. After that, it will be equal to seven times the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate for each day that the index closes at or above 750, up to a rate of 10% in any interest payment period. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Leveraged CMS curve and S&P 500 index-linked notes
|
| Amount: | $10 million (increased from $3 million)
|
| Maturity: | Jan. 13, 2032
|
| Coupon: | 10% for five years; then, seven times spread of 30-year CMS rate over two-year CMS rate for each day that S&P closes at or 750, capped at 10% with floor of zero; payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Pricing date: | Jan. 4 for $3 million; Jan. 12 for $7 million
|
| Settlement date: | Jan. 13
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 4%
|
| Cusip: | 61745E4T5
|
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