Morgan Stanley (MS) has announced they will be selling a new issue of perpetual preferred stock.
The issue is non cumulative, but qualified for lower tax treatment.
MS has quite a bunch of preferreds already outstanding which can be seen here.
The preliminary prospectus can be found here.
Thanks to all who were on top of this new issue—if you prefer, EarlyBird
5 thoughts on “Morgan Stanley Announces New Preferred Issue”
MSSXL at Etrade
https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes shows it’s assigned MSSXV but switching tomorrow to MSSXL.
E*TRADE shows active trading (200k shares in the last 10 mins or so) for MSSXV in the $25.75-25.95 range, although as I’d expect it won’t allow me to place an extended-hours order.
Since it’s trading I assume they’ve set the coupon?
My Magic Eight Ball replied, “Really?!”