Key Takeaways
- • Morgan Stanley 4.3% Fixed-Rate Bond Outstanding: $2.50 billion in principal amount remains outstanding on the Morgan Stanley 4.3% 27-JAN-2045 senior unsecured bond (ISIN: US61747YDY86), issued January 27, 2015.
- • Extended Maturity Profile: The bond carries an 18-year term to maturity as of the April 2023 reporting date, with final maturity on January 27, 2045, offering a long-duration fixed-income instrument for institutional portfolios.
- • Semi-Annual Coupon Structure: Investors receive semi-annual coupon payments of 4.30% on a $1,000 face value minimum denomination, providing predictable quarterly-equivalent cash flows.
- • Investment-Grade Corporate Credit: Issued by Morgan Stanley, a global investment bank and wealth/asset manager with diversified revenue streams across institutional securities, wealth management, and investment management segments.
- • --
Summary
The Morgan Stanley 4.3% 27-JAN-2045 bond (ticker DWDY on municipal bond markets) represents a $2.50 billion senior unsecured fixed-rate debt obligation issued by Morgan Stanley in January 2015. As of mid-April 2023, the bond carries 18 years to maturity, positioning it as a long-duration credit instrument for institutional fixed-income portfolios seeking extended yield exposure to an investment-grade issuer.
The bond structure features a fixed 4.30% coupon paid semi-annually, with a standard $1,000 minimum denomination. This coupon rate reflects Morgan Stanley's credit profile at the time of issuance in early 2015, when interest rate regimes and credit spreads differed materially from the April 2023 environment. The semi-annual payment schedule—occurring in July and January—provides institutional investors with recurring cash flows aligned to standard market settlement cycles.
Morgan Stanley, founded in 1924 and headquartered in New York, operates as a diversified global financial services platform with three primary operating segments: Institutional Securities (providing advisory and capital-raising services to corporations, governments, and financial institutions); Wealth Management (offering brokerage, advisory, and alternative investment services to high-net-worth individuals); and Investment Management (deploying equity, fixed income, alternative, real estate, and merchant banking strategies). The issuer's business model generates revenue across advisory services, principal trading activities, asset management fees, and lending operations—providing multiple earnings streams to support debt servicing obligations.
Institutional investors and family offices tracking fixed-income exposures would evaluate this bond's risk-return profile relative to prevailing Treasury yields, credit spreads in the financial services sector, and duration positioning within portfolio constraints. The primary market data point—$2.50 billion outstanding—indicates a substantial tranche size sufficient for secondary market liquidity across institutional trading desks.
The bond structure features a fixed 4.30% coupon paid semi-annually, with a standard $1,000 minimum denomination. This coupon rate reflects Morgan Stanley's credit profile at the time of issuance in early 2015, when interest rate regimes and credit spreads differed materially from the April 2023 environment. The semi-annual payment schedule—occurring in July and January—provides institutional investors with recurring cash flows aligned to standard market settlement cycles.
Morgan Stanley, founded in 1924 and headquartered in New York, operates as a diversified global financial services platform with three primary operating segments: Institutional Securities (providing advisory and capital-raising services to corporations, governments, and financial institutions); Wealth Management (offering brokerage, advisory, and alternative investment services to high-net-worth individuals); and Investment Management (deploying equity, fixed income, alternative, real estate, and merchant banking strategies). The issuer's business model generates revenue across advisory services, principal trading activities, asset management fees, and lending operations—providing multiple earnings streams to support debt servicing obligations.
Institutional investors and family offices tracking fixed-income exposures would evaluate this bond's risk-return profile relative to prevailing Treasury yields, credit spreads in the financial services sector, and duration positioning within portfolio constraints. The primary market data point—$2.50 billion outstanding—indicates a substantial tranche size sufficient for secondary market liquidity across institutional trading desks.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.