By William Gullotti
Buffalo, N.Y., Sept. 30 – Morgan Stanley Finance LLC priced $3.1 million of fixed-to-floating-rate notes due Sept. 19, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The interest rate is 4.5% for the first year. Then it will be SOFR plus 40 basis points, reset quarterly. Interest is payable quarterly, subject to a 6% ceiling and a 0% floor.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Fixed-to-floating-rate notes
|
| Amount: | $3,095,000
|
| Maturity: | Sept. 19, 2025
|
| Coupon: | 4.5% for first year, then SOFR plus 40 bps, reset quarterly and subject to a 6% ceiling and a 0% floor; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Sept. 15
|
| Settlement date: | Sept. 19
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fee: | 1%
|
| Cusip: | 61761J4S5
|
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