By Wendy Van Sickle
Columbus, Ohio, March 7 – Morgan Stanley priced $50 million of floating-rate notes due April 1, 2025 linked to the Federal Funds effective rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be equal to Federal Funds effective rate plus 17 basis points. Interest will be payable quarterly and cannot be less than 0.1%.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Floating-rate notes
|
| Underlying rate: | Federal Funds effective rate
|
| Amount: | $50 million
|
| Maturity: | April 1, 2025
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| Coupon: | Federal Funds effective rate plus 17 bps with floor of 0.1%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Feb. 23
|
| Settlement date: | March 1
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.04%
|
| Cusip: | 61761J6E4
|
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