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Morgan Stanley plans range accrual notes linked to CMS curve, S&P 500
By Susanna Moon
Chicago, March 5 - Morgan Stanley plans to price CMS curve and S&P 500 index-linked range accrual notes due March 21, 2027, according to an FWP filing with the Securities and Exchange Commission.
Interest will accrue at 8% for each day that the 30-year Constant Maturity Swap rate is at or above the two-year CMS rate and the S&P 500 closing level is at least 950. Interest will be payable quarterly and cannot be less than zero.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
The notes will settle on March 21.
The Cusip number is 61760QAJ3.
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