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Morgan Stanley plans noncallable contingent coupon notes on S&P 500
By Toni Weeks
San Diego, May 3 - Morgan Stanley plans to price noncallable contingent coupon notes due May 28, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly. The notes will pay interest at a rate of 7.5% per year only if the index closes at or above 850 on the observation date for that month. If the index closes below the barrier level, no interest will be paid for that month.
The payout at maturity will be par.
The notes (Cusip: 617482R48) will price May 24 and settle May 30.
Morgan Stanley & Co. LLC will be the agent.
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