By William Gullotti
Buffalo, N.Y., Feb. 12 – Morgan Stanley Finance LLC priced $1.1 million of fixed-to-floating-rate notes due Jan. 25, 2034 based inversely on SOFR, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The interest rate is fixed at 7% for the first two years.
The floating-rate period starts Jan. 25, 2026, calculated at 7% minus SOFR. Interest is payable and resets quarterly and cannot be less than 0%.
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: | $1,095,000
|
| Maturity: | Jan. 25, 2034
|
| Coupon: | 7% for first two years; floating-rate period starts Jan. 25, 2026, payable at 7% minus SOFR, subject to floor of 0%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Jan. 23
|
| Settlement date: | Jan. 25
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fee: | 2%
|
| Cusip: | 61774FDC3
|
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