By William Gullotti
Buffalo, N.Y., Sept. 30 – Morgan Stanley Finance LLC priced $1.37 million of fixed-to-floating-rate notes due March 19, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The interest rate is 3.25% for the first six months. Then it will be SOFR plus 15 basis points, reset quarterly. Interest is payable quarterly, subject to a 5% ceiling and a 0% floor.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Fixed-to-floating-rate notes
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Amount: | $1,371,000
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Maturity: | March 19, 2024
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Coupon: | 3.25% for first six months, then SOFR plus 15 bps, reset quarterly and subject to a 5% ceiling and a 0% floor; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | Sept. 15
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Settlement date: | Sept. 19
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Agent: | Morgan Stanley & Co. LLC
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Fee: | 0.5%
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Cusip: | 61761J4R7
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