By Susanna Moon
Chicago, June 13 - Morgan Stanley priced $1 million of CMS curve and Russell 2000 index-linked range accrual notes due June 30, 2031, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 9% for the first two years. After that, it will accrue at 9% for 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 index is at least 575.
Interest is payable monthly.
The payout at maturity will be par.
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: | June 30, 2031
|
| Coupon: | 9% for two years; then, 9% for each day that 30-year CMS rate is at or above two-year CMS rate and Russell 2000 is at least 575; payable monthly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Pricing date: | June 9
|
| Settlement date: | June 30
|
| Agent: | Morgan Stanley & Co. Inc.
|
| Fees: | 4%
|
| Cusip: | 61745EX63
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
