Morgan Stanley Capital Trust III, 6 1/4% Capital Securities
MWR
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Financial - Capital Markets
- Address
- IPO Date
- Mar 25, 2003
- CIK
- 0000895421
- Similar Companies
- Business
- Morgan Stanley Capital Trust III operates as a special purpose entity formed by Morgan Stanley to issue and manage capital securities. The trust's primary product is its 6 1/4% Capital Securities (NYSE: MWR), which represent preferred securities with a fixed 6.25% distribution rate, a $25 liquidation preference per security, and quarterly distributions backed by a guarantee from parent company Morgan Stanley; these securities are supported by underlying junior subordinated debentures issued by Morgan Stanley. Headquartered in New York, the trust was established prior to 2008 as part of Morgan Stanley's capital-raising structure through multiple similar trusts, targeting institutional and retail investors seeking high-yield fixed-income instruments. In a major operational change, Morgan Stanley Capital Trust III redeemed all $880 million of its outstanding 6.25% Capital Securities in their entirety on August 18, 2016, pursuant to optional redemption provisions, with the redemption price set at the $25 liquidation amount per security plus accumulated unpaid distributions. This redemption, concurrent with similar actions for Trusts IV, V, and VIII, resulted from the redemption of the underlying junior subordinated debentures and marked the cessation of distributions on these securities, rendering them no longer outstanding. No significant partnerships, funding rounds, acquisitions, new product launches, or other major changes have been reported for the trust in the last 1-2 years.