Morgan Stanley plans one-year floaters tied to 10-year ICE swap rate

By Susanna Moon

Chicago, Oct. 13 – Morgan Stanley Finance LLC plans to price floating-rate notes due Nov. 30, 2017 linked to the 10-year U.S. dollar ICE swap rate, according to an FWP filing with the Securities and Exchange Commission.

Interest will accrue at a rate of 10% for each day that the 10-year dollar ICE swap rate is at or above the 70% reference level. Interest will be payable monthly and cannot be less than zero.

The payout at maturity will be par unless the reference rate finishes below the 70% threshold, in which case investors will be fully exposed to any losses.

The notes will be guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

The notes will settle on Oct. 31.

The Cusip number is 61766YAT8.

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