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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Invesco Quality Municipal Securities | NYSE:IQM | NYSE | Ordinary Share |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 16.14 | 0.00 | 01:00:00 |
From Jul 2019 to Jul 2024
The Morgan Stanley Municipal Closed-End Funds (the “Funds”) listed below hereby announce the dates for the partial redemptions of their respective auction rate preferred shares (ARPS). The announced partial redemptions total $152.05 million and represent approximately 20.66 percent of the total remaining ARPS issued by the Funds, bringing the total announced redemptions to 39.8 percent of the total originally issued ARPS.
This redemption announcement follows previous announcements in which Morgan Stanley provided information regarding the refinancing of a portion of the Funds’ ARPS with the use of tender option bonds (TOBs).
The amount of ARPS being redeemed at this time varies by Fund and ranges between 10 percent and 31 percent of the ARPS outstanding for each Fund based on a number of factors, including the interests of the common shareholders, the availability of high quality municipal bonds at certain yield levels to be transferred to the trust structure and the ability to secure liquidity providers for the put feature.
With respect to this partial redemption, The Depository Trust Company (DTC), the securities’ holder of record, will determine how the partial series redemptions will be allocated among each participant broker-dealer account. Each participant broker-dealer, as nominee for underlying beneficial owners (street name shareholders), in turn will determine how redeemed shares are to be allocated among its underlying beneficial owners. The procedures used by various broker-dealers to allocate redeemed shares among beneficial owners may differ from each other as well as from the procedures used by DTC.
Redemption Schedule
MS California Insured Municipal Income Trust (NYSE:IIC)
Series CUSIP Number# of SharesRedeemed
AmountRedeemed
Redemption Date 1 617-45P-601 38 $1,900,000 October 19, 2009 2 617-45P-700 77 $3,850,000 October 19, 2009 3 617-45P-809 96 $4,800,000 October 19, 2009 4 617-45P-882 38 $1,900,000 October 19, 2009
MS California Quality Municipal Securities (NYSE:IQC)
Series CUSIP Number# of SharesRedeemed
AmountRedeemed
Redemption Date 1 617-45P-627 58 $2,900,000 October 20, 2009 2 617-45P-619 53 $2,650,000 October 22, 2009 3 617-45P-593 135 $6,750,000 October 20, 2009
MS Insured Municipal Bond Trust (NYSE:IMC)
Series CUSIP Number# of SharesRedeemed
AmountRedeemed
Redemption Date 617-45P-353 102 $5,100,000 October 22, 2009
MS Insured Municipal Income Trust (NYSE:IIM)
Series CUSIP Number# of SharesRedeemed
AmountRedeemed
Redemption Date 1 617-45P-783 69 $3,450,000 October 19, 2009 2 617-45P-775 156 $7,800,000 October 19, 2009 3 617-45P-767 173 $8,650,000 October 19, 2009 4 617-45P-759 69 $3,450,000 October 19, 2009 5 617-45P-742 69 $3,450,000 October 19, 2009
MS Insured Municipal Trust (NYSE:IMT)
Series CUSIP Number# of SharesRedeemed
AmountRedeemed
Redemption Date TU 617-45P-841 177 $8,850,000 October 21, 2009 TH 617-45P-858 400 $20,000,000 October 23, 2009
MS Municipal Premium Income Trust (NYSE:PIA)
Series CUSIP Number# of SharesRedeemed
AmountRedeemed
Redemption Date A 617-45P-411 18 $1,800,000 October 21, 2009 B 617-45P-395 18 $1,800,000 October 21, 2009 C 617-45P-387 18 $1,800,000 October 21, 2009 D 617-45P-379 18 $1,800,000 October 21, 2009 E 617-45P-361 18 $1,800,000 October 21, 2009
MS New York Quality Municipal Securities (NYSE: IQN)
Series CUSIP Number# of SharesRedeemed
AmountRedeemed
Redemption Date 1 617-45P-510 50 $2,500,000 October 20, 2009 2 617-45P-494 42 $2,100,000 October 23, 2009
MS Quality Municipal Income Trust (NYSE: IQI)
Series CUSIP Number# of SharesRedeemed
AmountRedeemed
Redemption Date 1 617-45P-726 91 $4,550,000 October 21, 2009 2 617-45P-718 32 $1,600,000 October 22, 2009 3 617-45P-692 91 $4,550,000 October 22, 2009 4 617-45P-684 91 $4,550,000 October 22, 2009 5 617-45P-676 32 $1,600,000 October 23, 2009
MS Quality Municipal Investment Trust (NYSE: IQT)
Series CUSIP Number# of SharesRedeemed
AmountRedeemed
Redemption Date A 617-45P-650 249 $12,450,000 October 21, 2009 B 617-45P-643 124 $6,200,000 October 23, 2009
MS Quality Municipal Securities (NYSE: IQM)
Series CUSIP Number# of SharesRedeemed
AmountRedeemed
Redemption Date 1 617-45P-577 61 $3,050,000 October 20, 2009 2 617-45P-569 54 $2,700,000 October 21, 2009 3 617-45P-551 54 $2,700,000 October 22, 2009 4 617-45P-544 108 $5,400,000 October 20, 2009 5 617-45P-536 72 $3,600,000 October 20, 2009Morgan Stanley Investment Management, together with its investment advisory affiliates, has nearly 1,000 investment professionals around the world and approximately $361 billion in assets under management or supervision as of June 30, 2009. By leveraging its global ‘community of boutiques’ structure and the strength of Morgan Stanley, MSIM strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide.
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,200 offices in 37 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.
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