By Angela McDaniels
Tacoma, Wash., March 30 - Morgan Stanley priced $16 million of additional CMS curve and S&P 500 index-linked range accrual notes due March 30, 2032, according to a 424B2 filing with the Securities and Exchange Commission.
The issue size is now $17 million.
The coupon is 9% for the first two years. Beginning March 30, 2014, the interest rate will be 9% per year multiplied by the proportion of days on which the 30-year Constant Maturity Swap rate is greater than or equal to the two-year CMS rate and the index closes at or above 950. Interest is payable monthly.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | CMS curve and S&P 500 index-linked range accrual notes
|
| Amount: | $17 million, increased from $1 million
|
| Maturity: | March 30, 2032
|
| Coupon: | 9% for two years; then 9% per year multiplied by proportion of days on which 30-year CMS rate is greater than or equal to two-year CMS rate and index closes at or above 950; payable monthly
|
| Price: | Variable prices
|
| Payout at maturity: | Par
|
| Pricing date: | March 7 for initial $1 million
|
| Upsized: | March 29
|
| Settlement date: | March 30
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 4%
|
| Cusip: | 61760QAN4
|
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