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Morgan Stanley Capital Trust VII, 6.60% Capital Securities
Ticker Symbol: MSZ* CUSIP: 61750K208 Exchange: NYSE
* NOTE: This security is no longer trading as of 5/12/2015
Security has been Called for: Tuesday, May 12, 2015
4/27/2015 -- Morgan Stanley today announced that Morgan Stanley Capital Trust VII will redeem all of the issued and outstanding $1,100,000,000 aggregate liquidation amount of its 6.60% Capital Securities (CUSIP 61750K208; NYSE: MSZ) on May 12, 2015 pursuant to the optional redemption provisions provided in the documents governing such Capital Trust VII Capital Securities. The redemption price will be equal to the $25 liquidation amount per Capital Trust VII Capital Security plus $0.123750 accumulated but unpaid distributions to but excluding the redemption date. ____________ 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 VII, 6.60% 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 10/15/2011 at $25 per share plus accrued and unpaid dividends, and maturing 1/15/2046 which may be extended to 10/15/2066. Distributions of 6.60% ($1.65) 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 (but not beyond the maturity date). The trust's assets consist of the 6.60% Junior Subordinated Deferrable Interest Debentures due 10/15/2066, 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 trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (MS)
IPO - 10/6/2006 - 40.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: MSCAP Changed: 10/26/2006
Market Value $1000.0 Billion
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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