Morgan Stanley 2014 Annual Report Download - page 269

MORGAN STANLEY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Series E Preferred Stock. On September 30, 2013, the Company issued 34,500,000 Depositary Shares, for an
aggregate price of $862 million. Each Depositary Share represents a 1/1,000th interest in a share of perpetual
Series E Fixed-to-Floating Rate Non-Cumulative Preferred Stock, $0.01 par value (“Series E Preferred Stock”).
The Series E 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, 2023 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 E Preferred Stock
also has a preference over the Company’s common stock upon liquidation. The Series E Preferred Stock offering
(net of related issuance costs) resulted in proceeds of approximately $854 million. In December 2014, the
Company declared a quarterly dividend of $445.31 per share of Series E Preferred Stock that was paid on
January 15, 2015 to preferred shareholders of record on December 31, 2014.
Series F Preferred Stock. On December 10, 2013, the Company issued 34,000,000 Depositary Shares, for an
aggregate price of $850 million. Each Depositary Share represents a 1/1,000th interest in a share of perpetual
Series F Fixed-to-Floating Rate Non-Cumulative Preferred Stock, $0.01 par value (“Series F Preferred Stock”).
The Series F 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 January 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 Depositary Share). The Series F Preferred Stock
also has a preference over the Company’s common stock upon liquidation. The Series F Preferred Stock offering
(net of related issuance costs) resulted in proceeds of approximately $842 million. In December 2014, the
Company declared a quarterly dividend of $429.69 per share of Series F Preferred Stock that was paid on
January 15, 2015 to preferred shareholders of record on December 31, 2014.
Series G Preferred Stock. On April 29, 2014, the Company issued 20,000,000 Depositary Shares, for an
aggregate price of $500 million. Each Depositary Share represents a 1/1,000th interest in a share of perpetual
6.625% Non-Cumulative Preferred Stock, Series G, $0.01 par value (“Series G Preferred Stock”). The Series G
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 July 15, 2019 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 Depositary Share). The Series G Preferred Stock also has a
preference over the Company’s common stock upon liquidation. The Series G Preferred Stock offering (net of
related issuance costs) resulted in proceeds of approximately $494 million. In December 2014, the Company
declared a quarterly dividend of $414.06 per share of Series G Preferred Stock that was paid on January 15, 2015
to preferred shareholders of record on December 31, 2014.
Series H Preferred Stock. On April 29, 2014, the Company issued 1,300,000 Depositary Shares, for an
aggregate price of $1,300 million. Each Depositary Share represents a 1/25th interest in a share of perpetual
Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series H, $0.01 par value (“Series H Preferred Stock”).
The Series H 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 July 15, 2019 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 $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. In December 2014, the
Company declared a semi-annual dividend of $681.25 per share of Series H Preferred Stock that was paid on
January 15, 2015 to preferred shareholders of record on December 31, 2014.
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