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Morgan Stanley plans range accrual notes tied to S&P, Russell, Libor
New York, July 12 – Morgan Stanley Finance LLC plans to price range accrual notes due July 28, 2032 linked to the Russell 2000 index, the S&P 500 index and Libor, according to an FWP filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
Interest will be payable quarterly.
The interest rate will be Libor plus 225 basis points per year multiplied by the proportion of days on which each index closes above its 65% reference level. The rate will be capped at 7% and have a floor of 0%.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
The notes will price on July 25 and settle on July 28.
The Cusip number is 61766YBU4.
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