By Susanna Moon
Chicago, Oct. 7 - Morgan Stanley priced $1 million of CMS curve and Russell 2000-linked range accrual notes due Oct. 29, 2030, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 10% for the first year. After that, interest will accrue at 10% per year on each day that the spread of the 30-year Constant Maturity Swap rate over the two-year CMS rate is at least zero and the level of the Russell 2000 is at least 525.
Interest is payable monthly.
The payout at maturity will be par.
The notes are callable at par on any quarterly redemption date beginning Oct. 29, 2012.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | CMS curve and Russell 2000 index-linked range accrual notes
|
| Amount: | $1 million
|
| Maturity: | Oct. 29, 2030
|
| Coupon: | 10% per year for one year; thereafter, 10% per year times proportion of days on which 30-year CMS rate is at or above two-year CMS rate and Russell 2000 is at least 525; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any quarterly redemption date after two years
|
| Pricing date: | Oct. 6
|
| Settlement date: | Oct. 29
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 4%
|
| Cusip: | 61745EQ79
|
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