Morgan Stanley 2014 Annual Report Download - page 110

redemption price of $25,000 per share (equivalent to $1,000 per Depositary Share). The Series H Preferred Stock
also has a preference over the Company’s common stock upon liquidation. The Series H Preferred Stock offering
(net of related issuance costs) resulted in proceeds of approximately $1,294 million.
Series I Preferred Stock. On September 18, 2014, the Company issued 40,000,000 Depositary Shares for an
aggregate price of $1,000 million. Each Depositary Share represents a 1/1,000th interest in a share of perpetual
Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series I, $0.01 par value (“Series I Preferred Stock”).
The Series I Preferred Stock is redeemable at the Company’s option (i) in whole or in part, from time to time, on
any dividend payment date on or after October 15, 2024 or (ii) in whole but not in part at any time within 90 days
following a regulatory capital treatment event (as described in the terms of that series), in each case at a
redemption price of $25,000 per share (equivalent to $25.00 per Depository Share). The Series I Preferred Stock
also has a preference over the Company’s common stock upon liquidation. The Series I Preferred Stock offering
(net of related issuance costs) resulted in proceeds of approximately $994 million.
On December 16, 2014, the Company announced that its Board of Directors declared, a quarterly or semi-annual
dividend as appropriate, for preferred stock shareholders of record on December 31, 2014, that was paid on
January 15, 2015 as follows:
Series Preferred Stock Description
Quarterly
Dividend
Per Share(1)
A Floating Rate Non-Cumulative Preferred Stock (represented by Depositary Shares, each
representing a 1/1,000th interest in a share of preferred stock and each having a dividend of
$0.25556)
$255.56
C 10% Non-Cumulative Non-Voting Perpetual Preferred Stock 25.00
E Fixed-to-Floating Rate Non-Cumulative Preferred Stock (represented by Depositary Shares,
each representing a 1/1,000th interest in a share of preferred stock and each having a
dividend of $0.44531)
445.31
F Fixed-to-Floating Rate Non-Cumulative Preferred Stock (represented by Depositary Shares,
each representing a 1/1,000th interest in a share of preferred stock and each having a
dividend of $0.42969)
429.69
G 6.625% Non-Cumulative Preferred Stock (represented by Depositary Shares, each
representing a 1/1,000th interest in a share and each having a dividend of $0.41406)
414.06
H Fixed-to-Floating Rate Non-Cumulative Preferred Stock (represented by Depositary Shares,
each representing a 1/25th interest in a share of preferred stock and each having a dividend
of $27.25)(1)
681.25
I Fixed-to-Floating Rate Non-Cumulative Preferred Stock (represented by Depositary Shares,
each representing a 1/1,000th interest in a share of preferred stock and each having a
dividend of $0.51797)
517.97
(1) Dividend on Series H is payable semi-annually until July 15, 2019.
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