Morgan Stanley 2015 Annual Report Download - page 225

MORGAN STANLEY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Preferred Stock Outstanding.
Shares Outstanding
At December 31,
2015
Liquidation
Preference per
Share
Carrying Value
Series
At
December 31,
2015
At
December 31,
2014
(shares in millions) (dollars in millions)
A ................................. 44,000 $ 25,000 $ 1,100 $ 1,100
C(1) ............................... 519,882 1,000 408 408
E ................................. 34,500 25,000 862 862
F ................................. 34,000 25,000 850 850
G ................................. 20,000 25,000 500 500
H ................................. 52,000 25,000 1,300 1,300
I.................................. 40,000 25,000 1,000 1,000
J.................................. 60,000 25,000 1,500 —
Total .......................... $ 7,520 $ 6,020
(1) Series C is comprised of the issuance of 1,160,791 shares of Series C Preferred Stock to MUFG for an aggregate purchase price of $911 million, less the
redemption of 640,909 shares of Series C Preferred Stock of $503 million, which were converted to common shares of approximately $705 million.
The Company’s preferred stock qualifies as Tier 1 capital in accordance with regulatory capital requirements (see Note 14).
Preferred Stock Issuance Description.
Series Issuance Date Preferred Stock Issuance Description
Redemption
Price
per Share(1)
Redeemable on
or after Date
Dividend
per Share(2)
A(3) .... July 2006 44,000,000 Depositary Shares, each representing a 1/1,000th of a share of
Floating Rate Non-Cumulative Preferred Stock, $0.01 par value
$25,000 July 15, 2011 $255.56
C(3)(4) . . October 13, 2008 10% Perpetual Non-Cumulative Non-Voting Preferred Stock 1,100 October 15, 2011 25.00
E(5) ..... September 30, 2013 34,500,000 Depositary Shares, each representing a 1/1,000th interest in a
share of perpetual Fixed-to-Floating Rate Non-Cumulative Preferred
Stock, $0.01 par value
25,000 October 15, 2023 445.31
F(5) ..... December 10, 2013 34,000,000 Depositary Shares, each representing a 1/1,000th interest in a
share of perpetual Fixed-to-Floating Rate Non-Cumulative Preferred
Stock, $0.01 par value
25,000 January 15, 2024 429.69
G(5) .... April 29, 2014 20,000,000 Depositary Shares, each representing a 1/1,000th interest in a
share of perpetual 6.625% Non-Cumulative Preferred Stock, $0.01 par
value
25,000 July 15, 2019 414.06
H(5)(6) . . April 29, 2014 1,300,000 Depositary Shares, each representing a 1/25th interest in a share
of perpetual Fixed-to-Floating Rate Non-Cumulative Preferred Stock,
$0.01 par value
25,000 July 15, 2019 681.25
I(5) ..... September 18, 2014 40,000,000 Depositary Shares, each representing a 1/1,000th interest in a
share of perpetual Fixed-to-Floating Rate Non-Cumulative Preferred
Stock, $0.01 par value
25,000 October 15, 2024 398.44
J(5)(7) . . . March 19, 2015 1,500,000 Depositary Shares, each representing a 1/25th interest in a share
of perpetual Fixed-to-Floating Rate Non-Cumulative Preferred Stock,
$0.01 par value
25,000 July 15, 2020 693.75
(1) The redemption price per share for Series A, E, F, G and I is equivalent to $25.00 per Depositary Share. The redemption price per share for Series H and Jis
equivalent to $1,000 per Depositary Share.
(2) Quarterly (unless noted otherwise) dividend declared in December 2015 that was paid on January 15, 2016 to preferred shareholders of record on December 31,
2015.
(3) The preferred stock is redeemable at the Company’s option, in whole or in part, on or after the redemption date.
(4) Dividends on the Series C preferred stock are payable, on a non-cumulative basis, as and if declared by the Company’s Board of Directors, in cash, at the rate of
10% per annum of the liquidation preference of $1,000 per share.
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