Morgan Stanley & Co. Int'l plc Series CDP 2016-2 Amendment Notice (6889P)
June 11 2020 - 6:07AM
UK Regulatory
TIDM48QN
RNS Number : 6889P
Morgan Stanley & Co. Int'l plc
11 June 2020
THIS NOTICE IS IMPORTANT AND REQUIRES YOUR IMMEDIATE
ATTENTION
Morgan Stanley & Co. International plc (the "Issuer")
Series CDP 2016-2 USD 10,000,000 Credit-Linked Notes linked to
Export Import Bank of Korea due December 2022 (ISIN:
XS1357763603)
NOTICE IS HEREBY GIVEN that on 8 June 2020 (the "Restructuring
Date"), the Terms and Conditions of the Notes were amended with the
consent of the Noteholder holding 100 per cent. in principal amount
outstanding of the Notes.
This notice sets out certain of the amendments which have made
to the Terms and Conditions of the Notes with effect from the
Restructuring Date. A copy of the amended and restated pricing
supplement dated 8 June 2020 relating to the Notes which sets out
the full amended and restated Terms and Conditions of the Notes has
been provided to the Noteholder and is available for inspection by
Noteholders at the office of the Issuer.
Highlighted Amendments
With effect from the Restructuring Date, the title of the Notes
has been updated to:
"Series CDP 2016-2 USD 10,000,000 Credit-Linked Notes linked to
Lloyds Banking Group PLC due 8 July 2030".
In addition, with effect from the Restructuring Date:
(1) The Scheduled Maturity Date is 8 July 2030; and
(2) The Interest Rate applicable to the Notes is a rate equal to the greater of:
a) Interest Rate Floor; and
b) (CMS Rate + 2.10%) * N/M.
Where:
"M" means the number of calendar days in the relevant Interest
Period.
"N" means the number of calendar days in the relevant Interest
Period where USDCMS30 - USDCMS2 >= -0.05% and USDCMS10 <=
6.00%
"CMS Rate" means a rate determined by reference to USD-ISDA-
Swap Rate-11:00 with a Designated Maturity of 1 year determined by
the Determination Agent based on REUTERS page ICESWAP1 at or about
11:00 a.m. New York City time on the day that is two New York
Business Days preceding the first day of the relevant Interest
Period.
As used above:
"LIBOR RATE" means USD-LIBOR-BBA (as defined in the 2006
Definitions) with a Designated Maturity of 3 months (as defined in
the 2006 Definitions) which appears on REUTERS page LIBOR01 at or
about 11:00 a.m. London time on each London Business Day during the
relevant Interest Period, provided that (i) the rate used for
non-London Business Days will be the previous London Business Day's
rate and (ii) the rate applicable five New York and London Business
Days prior to the Interest Period End Date on which the relevant
Interest Period ends will be the rate that applies for all
remaining days in such Interest Period.
"USDCMS2" means a rate determined by reference to USD ISDA-Swap
Rate-11:00 with a Designated Maturity of 2 years determined by the
Determination Agent based on REUTERS page ICESWAP1 at or about
11:00 a.m. New York City time on each New York Business Day during
the relevant Interest Period, provided that (i) the rate used for
non-New York Business Days will be the previous New York Business
Day's rate and (ii) the rate applicable five New York and London
Business Days prior to the Interest Period End Date on which the
relevant Interest Period ends will be the rate that applies for all
remaining days in such Interest Period.
"USDCMS10" means a rate determined by reference to USD-ISDA-
Swap Rate-11:00 with a Designated Maturity of 10 years determined
by the Determination Agent based on REUTERS page ICESWAP1 at or
about 11:00 a.m. New York City time on each New York Business Day
during the relevant Interest Period, provided that (i) the rate
used for non-New York Business Days will be the previous New York
Business Day's rate and (ii) the rate applicable five New York and
London Business Days prior to the Interest Period End Date on which
the relevant Interest Period ends will be the rate that applies for
all remaining days in such Interest Period.
"USDCMS30" means a rate determined by reference to USD-ISDA-Swap
Rate-11:00 with a Designated Maturity of 30 years determined by the
Determination Agent based on REUTERS page ICESWAP1 at or about
11:00 a.m. New York City time on each New York Business Day during
the relevant Interest Period, provided that (i) the rate used for
non-New York Business Days will be the previous New York Business
Day's rate and (ii) the rate applicable five New York and London
Business Days prior to the Interest Period End Date on which the
relevant Interest Period ends will be the rate that applies for all
remaining days in such Interest Period.
"Interest Rate Floor" means 0.00 per cent per annum; and
(3) An Additional Coupon of USD 10,000 per Denomination of Note
shall be payable on 20 June 2020 (subject to the Following Business
Day Convention), provided that USDCMS10 is less than or equal to
2.50% for 2 consecutive Business Days from and including the
Restructuring Date. If USD CMS10 is higher than 2.5% on any of the
2 consecutive Business Days from and including the Restructuring
Date, no Additional Coupon shall be payable.
Capitalised terms used in this notice and not otherwise defined
have the meaning given to them in the Terms and Conditions of the
Notes.
This notice is given by the Issuer.
For further information or enquiries, contact:
DSP Credit
Tel: +44 20 7425 8000
Email: dsp-credit-eu@morganstanley.com
asiastructuring@morganstanley.com
Dated: 11 June 2020
This announcement has been issued through the Companies
Announcement Service of Euronext Dublin.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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