-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, REHaKDJxwk3blob9Xtg/cujWJ7nAydAbw9dpSpMm75su6qSEfIOE4WVN5jyNdxmO a0VtjWEN5NmV4891naW+7g== 0000950103-96-001242.txt : 19961204 0000950103-96-001242.hdr.sgml : 19961204 ACCESSION NUMBER: 0000950103-96-001242 CONFORMED SUBMISSION TYPE: 424B3 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19961203 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: MORGAN STANLEY GROUP INC /DE/ CENTRAL INDEX KEY: 0000789625 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] IRS NUMBER: 132838811 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-01655 FILM NUMBER: 96675292 BUSINESS ADDRESS: STREET 1: 1585 BROADWAY CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 2127034000 424B3 1 PROSPECTUS Dated May 1, 1996 Amendment No. 1 dated November 26, 1996 to PROSPECTUS SUPPLEMENT Pricing Supplement No. 32 to Dated May 2, 1996 Registration Statement No. 333-01655 Dated August 14, 1996; Rule 424(b)(3) Morgan Stanley Group Inc. GLOBAL MEDIUM-TERM NOTES, SERIES E Senior Euro Fixed Rate Bearer Notes Due August 21, 1997 The Global Medium-Term Notes, Series E (Senior Euro Fixed Rate Bearer Notes Due August 21, 1997) described in this Pricing Supplement (the "Notes") will mature on the Maturity Date. The Notes will not be redeemable at the option of Morgan Stanley Group Inc. (the "Company") prior to the Maturity Date other than under the circumstances described under "Description of Notes--Tax Redemption" in the accompanying Prospectus Supplement. The Notes will be issued only in bearer form, which form is further described under "Description of Notes--Forms, Denominations, Exchange and Transfer" in the accompanying Prospectus Supplement. Notes in bearer form will not be exchangeable at any time for Notes in registered form. The Notes are further described under "Description of Notes--Fixed Rate Notes" in the accompanying Prospectus Supplement, except that to the extent the terms described below are inconsistent with such description, the terms described below shall control. PRINCIPAL AMOUNT: INITIAL REDEMPTION DATE: N/A APPLICABILITY OF MODIFIED YEN 5,000,000,000 PAYMENT UPON ACCELERATION: N/A MATURITY DATE: INITIAL REDEMPTION IF YES, STATE ISSUE PRICE: N/A August 21, 1997 PERCENTAGE: N/A DATE OF ISSUANCE AND ANNUAL REDEMPTION OPTIONAL REPAYMENT SETTLEMENT DATE: PERCENTAGE REDUCTION: N/A DATE(S): N/A August 21, 1996 INTEREST ACCRUAL DATE: INITIAL ACCRUAL PERIOD OID: DENOMINATIONS: August 21, 1996 N/A YEN 100,000,000 TOTAL AMOUNT OF OID: N/A INTEREST RATE: 7% per annum SPECIFIED CURRENCY: from the Date of Issuance to and Japanese Yen including November 29, 1996; 1.00% per annum from and including November 30, 1996 to but excluding the Maturity Date ORIGINAL YIELD TO MATURITY: N/A INTEREST PAYMENT DATE: CALCULATION AGENT: Morgan Maturity Date Stanley & Co. International ISSUE PRICE: 100% PAYING AGENT: The Chase BUSINESS DAYS: Tokyo, New Manhattan Bank (London Branch) York, London REDEMPTION PRICE: The ISIN: XS0068955227 Redemption Price at maturity with respect to each Yen 100,000,000 of a Note will be a percentage which equals the product of (i) 100 and (ii) (1-N/9), rounded COMMON CODE: 6895522 downward to the next whole Yen. N is a number between 0 and 9, inclusive, equal to the number of Relevant Observations. See "OTHER PROVISIONS."
OTHER PROVISIONS: OBSERVATION DATE................. The third Tokyo Business Day prior to the twenty-first calendar day of each month from December 1996 to August 1997. 10 YEAR YEN SWAP RATE............ The 10 Year Yen Swap Rate (TSR) as displayed on Telerate Page 17143 at 10:00 a.m., Tokyo time, on the relevant Observation Date, as determined by the Calculation Agent. RELEVANT LOW OBSERVATIONS........ The number of Observation Dates from and including December 1996 to and including August 1997 on which the 10 Year Yen Swap Rate is determined to be less than 3.07%; provided that if the 10 Year Yen Swap Rate is determined to be equal to or greater than 3.70% on any Observation Date, the Relevant Low Observations shall be deemed to be zero. RELEVANT HIGH OBSERVATIONS....... The number of Observation Dates from and including December 1996 to and including August 1997 on which the 10 Year Yen Swap Rate is determined to be greater than 3.30%; provided that if the 10 Year Yen Swap Rate is determined to be equal to or less than the Downside Knock-out Level (as defined below) on any Observation Date, the Relevant High Observations shall be deemed to be zero. RELEVANT OBSERVATIONS............ The sum of Relevant Low Observations and Relevant High Observations. THE DOWNSIDE KNOCK-OUT LEVEL..... For each Observation Date, the Downside Knock-out Level shall be the rate set forth opposite such Observation Date below: Observation Date Downside Knock-out Level ---------------- ------------------------ December 1996 2.70% January 1997 2.75% February 1997 2.80% March 1997 2.85% April 1997 2.90% May 1997 2.95% June 1997 3.00% July 1997 3.05% August 1997 3.10% If the 10 Year Yen Swap Rate does not appear on Telerate Page 17143 or if such Telerate Page is no longer available, the 10 Year Yen Swap Rate shall be replaced by a rate for a ten-year interest rate swap transaction in Japanese Yen as determined by the Calculation Agent at 10:00 a.m., Tokyo time, on each relevant Observation Date. Capitalized terms not defined above have the meanings given to such terms in the accompanying Prospectus Supplement. MORGAN STANLEY & CO. International -----END PRIVACY-ENHANCED MESSAGE-----