We advised Morgan Stanley Bank on its 3(a)(2) program and senior notes offering

Davis Polk advised Morgan Stanley and Morgan Stanley, N.A., (MSBNA), a subsidiary of Morgan Stanley, on the commencement of MSBNA’s global note program, which contemplates both senior and subordinated notes. The notes are being offered and sold in reliance upon an exemption from registration provided in section 3(a)(2) of the Securities Act and pursuant to the exemption from registration with the Office of the Comptroller of the Currency (OCC) provided by section 16.6 of the OCC’s regulations.

Davis Polk also advised Morgan Stanley and MSBNA in connection with MSBNA’s inaugural offering under the program of $1.5 billion aggregate principal amount of fixed-rate senior notes due 2026.

The Davis Polk corporate team included partners Christopher S. Schell and Shane Tintle, counsel Vidal Vanhoof and associates Timothy J. DiPrisco and Maria Vlachou. Partners Luigi L. De Ghenghi and Eric McLaughlin and associates Tyler X. Senackerib, Jung Eun Choi and Joshua Kim provided financial institutions advice. All members of the Davis Polk team are based in the New York office.