Bank of America (NYSE:BAC), Morgan Stanley (NYSE:MS) Price Mortgage Bonds

Bonds backing commercial mortgages being marketed by Bank of America (NYSE:BAC) and Morgan Stanley (NYSE:MS) have been priced by the two firms.

In the lead position, a $597.2 million group maturing in 4.8 years, may pay 115 basis points more than the benchmark swap rate, said a person familiar with the matter who refused to be identified.

The person added, that an $85.2 million portion, which is rated BBB by Standard & Poor’s, will pay a spread of 200 basis points

Bank of America was trading at $14.54, down $0.10 or 0.68 percent, as of 2:09 PM EST. Morgan Stanley was trading at $29.75, down $0.33, or 1.08 percent.