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$7B Morgan Stanley 4Pt Launched

PIPELINE
Unexpectedly large issuance for the dealer -- rate lock sales certainly weighing on Tsys amid thin post-holiday trade (TYM2 only 583k at moment).
  • Date $MM Issuer (Priced *, Launch #)
  • 04/18 $7B #Morgan Stanley $2B 3NC2 +118, $500M 3NC2 SOFR+116.5, $2.5B 6NC5 +143, $2B 15NC10+245
  • 04/18 $Benchmark Wells Fargo 4NC3 +140a, 4NC3 SOFR, 31NC30 +185a

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