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Morgan Stanley Capital Trust VIII, 6.45% Capital Securities
Ticker Symbol: MSK* CUSIP: 61753R200 Exchange: NYSE
* NOTE: This security is no longer trading as of 8/18/2016
Security has been Called for: Thursday, August 18, 2016
July 19, 2016 -- Morgan Stanley today announced that Morgan Stanley Capital Trust III will redeem all of the issued and outstanding $880,000,000 aggregate liquidation amount of its 6.25% Capital Securities (CUSIP 617460209; NYSE: MWR) on August 18, 2016 pursuant to the optional redemption provisions provided in the documents governing such Capital Trust III Capital Securities. The redemption price will be equal to the $25 liquidation amount per Capital Trust III Capital Security plus $0.334201 accumulated but unpaid distributions to but excluding the redemption date. Morgan Stanley also today announced that Morgan Stanley Capital Trust IV will redeem all of the issued and outstanding $620,000,000 aggregate liquidation amount of its 6.25% Capital Securities (CUSIP 617462205; NYSE: MWG) on August 18, 2016 pursuant to the optional redemption provisions provided in the documents governing such Capital Trust IV Capital Securities. The redemption price will be equal to the $25 liquidation amount per Capital Trust IV Capital Security plus $0.203993 accumulated but unpaid distributions to but excluding the redemption date. Morgan Stanley also today announced that Morgan Stanley Capital Trust V will redeem all of the issued and outstanding $500,000,000 aggregate liquidation amount of its 5.75% Capital Securities (CUSIP 617466206; NYSE: MWO) on August 18, 2016 pursuant to the optional redemption provisions provided in the documents governing such Capital Trust V Capital Securities. The redemption price will be equal to the $25 liquidation amount per Capital Trust V Capital Security plus $0.131771 accumulated but unpaid distributions to but excluding the redemption date. Morgan Stanley also today announced that Morgan Stanley Capital Trust VIII will redeem all of the issued and outstanding $825,000,000 aggregate liquidation amount of its 6.45% Capital Securities (CUSIP 61753R200; NYSE: MSK) on August 3, 2016 pursuant to the optional redemption provisions provided in the documents governing such Capital Trust VIII Capital Securities. The redemption price will be equal to the $25 liquidation amount per Capital Trust VIII Capital Security plus $0.080625 accumulated but unpaid distributions to but excluding the redemption date. The Capital Trust III Capital Securities, the Capital Trust IV Capital Securities, the Capital Trust V Capital Securities and the Capital Trust VIII Capital Securities are being redeemed, along with the common securities issued by Morgan Stanley Capital Trust III, Morgan Stanley Capital Trust IV, Morgan Stanley Capital Trust V and Morgan Stanley Capital Trust VIII and held by Morgan Stanley, as a result of the concurrent redemption in their entirety of the junior subordinated debentures that underlie the Capital Trust III Capital Securities, the Capital Trust IV Capital Securities, the Capital Trust V Capital Securities and the Capital Trust VIII Capital Securities, respectively. Beginning on the applicable redemption date, the Capital Trust III Capital Securities, the Capital Trust IV Capital Securities, the Capital Trust V Capital Securities and the Capital Trust VIII Capital Securities will no longer be considered outstanding and distributions will cease to accumulate on such securities. The Bank of New York Mellon, 101 Barclay Street, New York, New York 10286, is the paying agent for the Capital Trust III Capital Securities, the Capital Trust IV Capital Securities, the Capital Trust V Capital Securities and the Capital Trust VIII Capital Securities. ____________ This security is possibly subject to an early call as a result of the occurrence of a regulatory event (see prospectus for further information) stemming from the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act which no longer allows the company to include the funds originating from this security as Tier 1 capital on their balance sheet.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Morgan Stanley Capital Trust VIII, 6.45% Capital Securities, liquidation amount $25 per share, guaranteed by Morgan Stanley (NYSE: MS) (See our definition of Guaranteed in our Glossary of Income Investing Terms for the technicalities of the guarantee), redeemable at the issuer's option on or after 7/15/2012 at $25 per share plus accrued and unpaid dividends, with a scheduled redemption date of 1/15/2046 and maturing 4/15/2067. Distributions of 6.45% ($1.6125) per annum are paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the 15th calender day prior to the payment date (note that the ex-dividend date is at least 2 business days prior to the record date). Dividends paid by trust preferred securities are NOT eligible for the 15% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. The company has the right, at any time, to defer dividend payments for up to 40 consecutive quarters without giving rise to an event of default (but not beyond the maturity date) and up to 20 consecutive quarters before the alternative payment mechanism takes effect. The trust's assets consist of the 6.45% Junior Subordinated Deferrable Interest Debentures due 4/15/2067, which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the capital securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (MS)
IPO - 4/20/2007 - 30.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: MRGVJ Changed: 5/16/2007
Market Value $750.0 Million
Company's Online Information Links
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Company's Online SEC EDGAR Filings |
Company's Email Address Links |
Address and Phone Numbers |
Address: 1585 Broadway, New York, NY 10036 |
Main Phone Number |
212-761-4000 |
Fax Number |
212-761-0086 |
Investor Contact
William Pike
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212-761-0008
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Toll Free Phone Number |
800-733-2307 |
CEO - John J. Mack |
CFO - David H. Sidwell |
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