By William Gullotti
Buffalo, N.Y., Dec. 30 – Morgan Stanley Finance LLC priced $6.45 million of fixed-to-floating-rate callable notes due Nov. 28, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The interest rate is 8% for the first year. Then it will be the 10-year U.S. Dollar SOFR ICE swap rate minus the two-year U.S. Dollar SOFR ICE swap rate times 12, reset quarterly. Interest is payable quarterly and cannot be less than 0%.
After one year, the notes may be redeemed early at par on any quarterly valuation date.
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 callable notes
|
| Amount: | $6.45 million
|
| Maturity: | Nov. 28, 2025
|
| Coupon: | 8% for first year; then 10-year U.S. Dollar SOFR ICE swap rate minus two-year U.S. Dollar SOFR ICE swap rate times 12, reset quarterly and subject to a floor of 0%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | After one year at par on any quarterly determination date
|
| Pricing date: | Nov. 23
|
| Settlement date: | Nov. 29
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fee: | 1.4%
|
| Cusip: | 61766YMJ7
|
|
|
© 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.
