We advised Morgan Stanley on its SEC-registered global offering

Davis Polk advised Morgan Stanley in connection with its SEC-registered global offering of $10 billion aggregate principal amount of senior notes, consisting of $500 million floating-rate notes due 2030, $2.5 billion fixed-to-floating-rate notes due 2030, $3.25 billion fixed-to-floating-rate notes due 2032 and $3.75 billion fixed-to-floating-rate notes due 2037. During each of the floating interest rate periods, the interest rate on the notes is based on compounded SOFR, calculated by reference to the SOFR Index.

The Davis Polk corporate team included partner Christopher S. Schell, counsel Vidal Vanhoof and associates Nicollette Farkas and Emily Mahan. The tax team included partner Lucy W. Farr, counsel David S. Fisher and associate Xiyuan (Spencer) Pan. Partner Gregory S. Rowland and counsel Sarah E. Kim and Leon E. Salkin provided 1940 Act advice. All members of the Davis Polk team are based in the New York office.

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