ISSUER FREE WRITING PROSPECTUS
Filed Pursuant to Rule 433
Registration Statement No. 333-125593
March 16, 2006


                IMPORTANT INFORMATION AND IRS CIRCULAR 230 NOTICE

THIS MATERIAL HAS BEEN PREPARED FOR INFORMATION PURPOSES TO SUPPORT THE
PROMOTION OR MARKETING OF THE TRANSACTION OR MATTERS ADDRESSED HEREIN. THIS IS
NOT A RESEARCH REPORT AND WAS NOT PREPARED BY THE MORGAN STANLEY RESEARCH
DEPARTMENT. IT WAS PREPARED BY MORGAN STANLEY SALES, TRADING, BANKING OR OTHER
NON-RESEARCH PERSONNEL. THIS MATERIAL WAS NOT INTENDED OR WRITTEN TO BE USED,
AND IT CANNOT BE USED BY ANY TAXPAYER, FOR THE PURPOSE OF AVOIDING PENALTIES
THAT MAY BE IMPOSED ON THE TAXPAYER UNDER U.S. FEDERAL TAX LAWS. EACH TAXPAYER
SHOULD SEEK ADVICE BASED ON THE TAXPAYER'S PARTICULAR CIRCUMSTANCES FROM AN
INDEPENDENT TAX ADVISOR. PAST PERFORMANCE IS NOT NECESSARILY A GUIDE TO FUTURE
PERFORMANCE. PLEASE SEE ADDITIONAL IMPORTANT INFORMATION AND QUALIFICATIONS AT
THE END OF THIS MATERIAL.



                STATEMENT REGARDING THIS FREE WRITING PROSPECTUS

THE DEPOSITOR HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH
THE SEC FOR THE OFFERING TO WHICH THIS COMMUNICATION RELATES. BEFORE YOU INVEST,
YOU SHOULD READ THE PROSPECTUS IN THAT REGISTRATION STATEMENT AND OTHER
DOCUMENTS THE DEPOSITOR HAS FILED WITH THE SEC FOR MORE COMPLETE INFORMATION
ABOUT THE DEPOSITOR, ISSUING TRUST AND THIS OFFERING. YOU MAY GET THESE
DOCUMENTS FOR FREE BY VISITING EDGAR ON THE SEC WEB SITE AT WWW.SEC.GOV.
ALTERNATIVELY, THE DEPOSITOR OR ANY UNDERWRITER OR ANY DEALER PARTICIPATING IN
THE OFFERING WILL ARRANGE TO SEND YOU THE PROSPECTUS IF YOU REQUEST IT BY
CALLING TOLL-FREE 1-866-718-1649.



IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS

ANY LEGENDS, DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR AT THE BOTTOM OF THE
EMAIL COMMUNICATION TO WHICH THIS MATERIAL IS ATTACHED ARE NOT APPLICABLE TO
THESE MATERIALS AND SHOULD BE DISREGARDED. SUCH LEGENDS, DISCLAIMERS OR OTHER
NOTICES HAVE BEEN AUTOMATICALLY GENERATED AS A RESULT OF THESE MATERIALS HAVING
BEEN SENT VIA BLOOMBERG OR ANOTHER EMAIL SYSTEM.

MSCI
MSCI
**2006-HQ8 **Moodys/S&P (red)
Treasury Curve  (03/06/2006)



 3 mth    4.5080   6 mth  4.6881    1 yr     4.7129    2 yr   4.7624   3 yr   4.7722   5 yr   4.7525   10 yr   4.7363  30 yr  4.7233


Security AM
Scenario 0
Avg Life: 9.7889  Total Interest: 149,565,524.50


Per     Date          Balance            Principal    Writedown   Interest           Excess    Shortfall   Coupon     Total
                                                                                     Interest                         Cash


   0     3/1/2006     273,123,000.00             -        -                  -         -           -          -                  -
   1    4/12/2006     273,123,000.00             -        -       1,283,971.33         -           -    5.64129       1,283,971.33
   2    5/12/2006     273,123,000.00             -        -       1,244,608.01         -           -    5.46834       1,244,608.01
   3    6/12/2006     273,123,000.00             -        -       1,283,962.78         -           -    5.64125       1,283,962.78
   4    7/12/2006     273,123,000.00             -        -       1,244,602.16         -           -    5.46831       1,244,602.16
   5    8/12/2006     273,123,000.00             -        -       1,283,954.03         -           -    5.64121       1,283,954.03
   6    9/12/2006     273,123,000.00             -        -       1,283,949.97         -           -    5.64119       1,283,949.97
   7   10/12/2006     273,123,000.00             -        -       1,244,593.32         -           -    5.46828       1,244,593.32
   8   11/12/2006     273,123,000.00             -        -       1,283,941.04         -           -    5.64116       1,283,941.04
   9   12/12/2006     273,123,000.00             -        -       1,244,587.33         -           -    5.46825       1,244,587.33
  10    1/12/2007     273,123,000.00             -        -       1,244,583.34         -           -    5.46823       1,244,583.34
  11    2/12/2007     273,123,000.00             -        -       1,244,579.81         -           -    5.46822       1,244,579.81
  12    3/12/2007     273,123,000.00             -        -       1,244,653.45         -           -    5.46854       1,244,653.45
  13    4/12/2007     273,123,000.00             -        -       1,283,913.30         -           -    5.64103       1,283,913.30
  14    5/12/2007     273,123,000.00             -        -       1,244,565.78         -           -    5.46816       1,244,565.78
  15    6/12/2007     273,123,000.00             -        -       1,283,901.67         -           -    5.64098       1,283,901.67
  16    7/12/2007     273,123,000.00             -        -       1,244,557.06         -           -    5.46812       1,244,557.06
  17    8/12/2007     273,123,000.00             -        -       1,283,889.85         -           -    5.64093       1,283,889.85
  18    9/12/2007     273,123,000.00             -        -       1,283,884.23         -           -    5.64091       1,283,884.23
  19   10/12/2007     273,123,000.00             -        -       1,244,544.30         -           -    5.46806       1,244,544.30
  20   11/12/2007     273,123,000.00             -        -       1,283,874.46         -           -    5.64086       1,283,874.46
  21   12/12/2007     273,123,000.00             -        -       1,244,539.66         -           -    5.46804       1,244,539.66
  22    1/12/2008     273,123,000.00             -        -       1,283,867.64         -           -    5.64083       1,283,867.64
  23    2/12/2008     273,123,000.00             -        -       1,244,535.52         -           -    5.46802       1,244,535.52
  24    3/12/2008     273,123,000.00             -        -       1,244,565.86         -           -    5.46816       1,244,565.86
  25    4/12/2008     273,123,000.00             -        -       1,283,852.62         -           -    5.64077       1,283,852.62
  26    5/12/2008     273,123,000.00             -        -       1,244,525.08         -           -    5.46798       1,244,525.08
  27    6/12/2008     273,123,000.00             -        -       1,283,841.84         -           -    5.64072       1,283,841.84
  28    7/12/2008     273,123,000.00             -        -       1,244,518.01         -           -    5.46795       1,244,518.01
  29    8/12/2008     273,123,000.00             -        -       1,283,830.89         -           -    5.64067       1,283,830.89
  30    9/12/2008     273,123,000.00             -        -       1,283,826.14         -           -    5.64065       1,283,826.14
  31   10/12/2008     273,123,000.00             -        -       1,244,508.51         -           -    5.46790       1,244,508.51
  32   11/12/2008     273,123,000.00             -        -       1,283,816.38         -           -    5.64061       1,283,816.38
  33   12/12/2008     273,123,000.00             -        -       1,244,503.06         -           -    5.46788       1,244,503.06
  34    1/12/2009     273,123,000.00             -        -       1,244,501.60         -           -    5.46787       1,244,501.60
  35    2/12/2009     273,123,000.00             -        -       1,244,500.06         -           -    5.46787       1,244,500.06
  36    3/12/2009     273,123,000.00             -        -       1,244,618.30         -           -    5.46839       1,244,618.30
  37    4/12/2009     273,123,000.00             -        -       1,283,793.17         -           -    5.64051       1,283,793.17
  38    5/12/2009     273,123,000.00             -        -       1,244,490.68         -           -    5.46783       1,244,490.68
  39    6/12/2009     273,123,000.00             -        -       1,283,782.73         -           -    5.64046       1,283,782.73
  40    7/12/2009     273,123,000.00             -        -       1,244,484.88         -           -    5.46780       1,244,484.88
  41    8/12/2009     273,123,000.00             -        -       1,283,772.10         -           -    5.64041       1,283,772.10
  42    9/12/2009     273,123,000.00             -        -       1,283,767.18         -           -    5.64039       1,283,767.18
  43   10/12/2009     273,123,000.00             -        -       1,244,476.29         -           -    5.46776       1,244,476.29
  44   11/12/2009     273,123,000.00             -        -       1,283,756.27         -           -    5.64034       1,283,756.27
  45   12/12/2009     273,123,000.00             -        -       1,244,470.19         -           -    5.46774       1,244,470.19
  46    1/12/2010     273,123,000.00             -        -       1,244,466.75         -           -    5.46772       1,244,466.75
  47    2/12/2010     273,123,000.00             -        -       1,244,463.95         -           -    5.46771       1,244,463.95
  48    3/12/2010     273,123,000.00             -        -       1,244,596.28         -           -    5.46829       1,244,596.28
  49    4/12/2010     273,123,000.00             -        -       1,283,725.35         -           -    5.64021       1,283,725.35
  50    5/12/2010     273,123,000.00             -        -       1,244,451.61         -           -    5.46765       1,244,451.61
  51    6/12/2010     273,123,000.00             -        -       1,283,712.53         -           -    5.64015       1,283,712.53
  52    7/12/2010     273,123,000.00             -        -       1,244,443.95         -           -    5.46762       1,244,443.95
  53    8/12/2010     273,123,000.00             -        -       1,283,831.27         -           -    5.64067       1,283,831.27
  54    9/12/2010     273,123,000.00             -        -       1,283,924.77         -           -    5.64108       1,283,924.77
  55   10/12/2010     273,123,000.00             -        -       1,244,662.11         -           -    5.46858       1,244,662.11
  56   11/12/2010     273,123,000.00             -        -       1,283,955.24         -           -    5.64122       1,283,955.24
  57   12/12/2010     273,123,000.00             -        -       1,244,475.64         -           -    5.46776       1,244,475.64
  58    1/12/2011     273,123,000.00             -        -       1,245,037.63         -           -    5.47023       1,245,037.63
  59    2/12/2011     273,123,000.00             -        -       1,249,558.36         -           -    5.49009       1,249,558.36
  60    3/12/2011     273,123,000.00             -        -       1,253,117.76         -           -    5.50573       1,253,117.76
  61    4/12/2011     273,123,000.00             -        -       1,293,833.81         -           -    5.68462       1,293,833.81
  62    5/12/2011     273,123,000.00             -        -       1,252,657.24         -           -    5.50371       1,252,657.24
  63    6/12/2011     273,123,000.00             -        -       1,293,859.00         -           -    5.68473       1,293,859.00
  64    7/12/2011     273,123,000.00             -        -       1,252,683.17         -           -    5.50382       1,252,683.17
  65    8/12/2011     273,123,000.00             -        -       1,293,884.52         -           -    5.68484       1,293,884.52
  66    9/12/2011     273,123,000.00             -        -       1,293,896.98         -           -    5.68490       1,293,896.98
  67   10/12/2011     273,123,000.00             -        -       1,252,722.25         -           -    5.50399       1,252,722.25
  68   11/12/2011     273,123,000.00             -        -       1,293,923.00         -           -    5.68501       1,293,923.00
  69   12/12/2011     273,123,000.00             -        -       1,252,749.05         -           -    5.50411       1,252,749.05
  70    1/12/2012     273,123,000.00             -        -       1,293,949.37         -           -    5.68513       1,293,949.37
  71    2/12/2012     273,123,000.00             -        -       1,253,126.25         -           -    5.50577       1,253,126.25
  72    3/12/2012     273,123,000.00             -        -       1,253,201.32         -           -    5.50610       1,253,201.32
  73    4/12/2012     273,123,000.00             -        -       1,294,348.61         -           -    5.68688       1,294,348.61
  74    5/12/2012     273,123,000.00             -        -       1,253,168.16         -           -    5.50595       1,253,168.16
  75    6/12/2012     273,123,000.00             -        -       1,294,375.88         -           -    5.68700       1,294,375.88
  76    7/12/2012     273,123,000.00             -        -       1,254,222.70         -           -    5.51058       1,254,222.70
  77    8/12/2012     273,123,000.00             -        -       1,295,968.29         -           -    5.69400       1,295,968.29
  78    9/12/2012     273,123,000.00             -        -       1,295,984.45         -           -    5.69407       1,295,984.45
  79   10/12/2012     273,123,000.00             -        -       1,254,270.68         -           -    5.51079       1,254,270.68
  80   11/12/2012     273,123,000.00             -        -       1,296,018.24         -           -    5.69422       1,296,018.24
  81   12/12/2012     273,123,000.00             -        -       1,254,301.02         -           -    5.51093       1,254,301.02
  82    1/12/2013     273,123,000.00             -        -       1,254,315.60         -           -    5.51099       1,254,315.60
  83    2/12/2013     273,123,000.00             -        -       1,253,921.40         -           -    5.50926       1,253,921.40
  84    3/12/2013     273,123,000.00             -        -       1,254,614.06         -           -    5.51230       1,254,614.06
  85    4/12/2013     273,123,000.00             -        -       1,295,115.89         -           -    5.69025       1,295,115.89
  86    5/12/2013     273,123,000.00             -        -       1,253,420.01         -           -    5.50706       1,253,420.01
  87    6/12/2013     273,123,000.00             -        -       1,295,124.85         -           -    5.69029       1,295,124.85
  88    7/12/2013     273,123,000.00             -        -       1,253,428.63         -           -    5.50710       1,253,428.63
  89    8/12/2013     273,123,000.00             -        -       1,295,133.83         -           -    5.69033       1,295,133.83
  90    9/12/2013     273,123,000.00             -        -       1,295,138.78         -           -    5.69035       1,295,138.78
  91   10/12/2013     273,123,000.00             -        -       1,253,442.04         -           -    5.50715       1,253,442.04
  92   11/12/2013     273,123,000.00             -        -       1,295,147.82         -           -    5.69039       1,295,147.82
  93   12/12/2013     273,123,000.00             -        -       1,253,450.75         -           -    5.50719       1,253,450.75
  94    1/12/2014     273,123,000.00             -        -       1,253,454.70         -           -    5.50721       1,253,454.70
  95    2/12/2014     273,123,000.00             -        -       1,253,459.49         -           -    5.50723       1,253,459.49
  96    3/12/2014     273,123,000.00             -        -       1,253,640.29         -           -    5.50803       1,253,640.29
  97    4/12/2014     273,123,000.00             -        -       1,295,169.25         -           -    5.69049       1,295,169.25
  98    5/12/2014     273,123,000.00             -        -       1,253,471.38         -           -    5.50728       1,253,471.38
  99    6/12/2014     273,123,000.00             -        -       1,295,178.38         -           -    5.69053       1,295,178.38
 100    7/12/2014     273,123,000.00             -        -       1,253,480.17         -           -    5.50732       1,253,480.17
 101    8/12/2014     273,123,000.00             -        -       1,295,187.54         -           -    5.69057       1,295,187.54
 102    9/12/2014     273,123,000.00             -        -       1,295,192.57         -           -    5.69059       1,295,192.57
 103   10/12/2014     273,123,000.00             -        -       1,253,493.82         -           -    5.50738       1,253,493.82
 104   11/12/2014     273,123,000.00             -        -       1,295,201.78         -           -    5.69063       1,295,201.78
 105   12/12/2014     273,123,000.00             -        -       1,252,956.01         -           -    5.50502       1,252,956.01
 106    1/12/2015     273,123,000.00             -        -       1,252,960.09         -           -    5.50504       1,252,960.09
 107    2/12/2015     273,123,000.00             -        -       1,252,965.01         -           -    5.50506       1,252,965.01
 108    3/12/2015     273,123,000.00             -        -       1,253,160.39         -           -    5.50592       1,253,160.39
 109    4/12/2015     273,123,000.00             -        -       1,294,658.66         -           -    5.68824       1,294,658.66
 110    5/12/2015     273,123,000.00             -        -       1,252,977.32         -           -    5.50511       1,252,977.32
 111    6/12/2015     273,123,000.00             -        -       1,294,668.07         -           -    5.68829       1,294,668.07
 112    7/12/2015     273,123,000.00             -        -       1,252,986.38         -           -    5.50515       1,252,986.38
 113    8/12/2015     273,123,000.00             -        -       1,295,674.83         -           -    5.69271       1,295,674.83
 114    9/12/2015     273,123,000.00             -        -       1,296,688.63         -           -    5.69716       1,296,688.63
 115   10/12/2015     273,123,000.00             -        -       1,261,931.73         -           -    5.54445       1,261,931.73
 116   11/12/2015     273,123,000.00             -        -       1,299,077.41         -           -    5.70766       1,299,077.41
 117   12/12/2015     273,123,000.00             -        -       1,262,864.74         -           -    5.54855       1,262,864.74
 118    1/12/2016                  -     273,123,000.00           1,310,943.13         -           -    5.75979     274,433,943.13
Total                                    273,123,000.00           149,565,524.50       -           -                422,688,524.50

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