By Wendy Van Sickle
Columbus, Ohio, Feb. 15 – Morgan Stanley priced $50 million of fixed-to-floating-rate notes due March 4, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 6% for the first four months. Then it will be one-Year U.S. Dollar SOFR ICE Swap Rate plus 16 basis points, reset monthly. Interest is payable monthly, subject to a 0.1% floor.
The payout at maturity will be par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Fixed-to-floating-rate notes
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| Amount: | $50 million
|
| Maturity: | March 4, 2024
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| Coupon: | 6% for first four months, then one-Year U.S. Dollar SOFR ICE Swap Rate plus 16 bps, reset monthly and subject to 0.1% floor; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Feb. 1
|
| Settlement date: | Feb. 3
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fee: | 0.25%
|
| Cusip: | 61760QNQ3
|
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