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Previous: MORGAN STANLEY ABS CAPITAL II INC, 424B2, 1997-08-20 |
Next: INVESTORSBANCORP INC, 10SB12G/A, 1997-08-20 |
<PAGE> 1
________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest Event
Reported): August 19, 1997
MORGAN STANLEY ABS CAPITAL II INC.
-----------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 333-26581 Not Yet Available
- ---------------------------- ------------ -----------------
(State or Other Jurisdiction (Commission (I.R.S. Employer of
Incorporation) File Number) Identification No.)
1585 Broadway
New York, New York 10036
- ------------------ ----------
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code (212) 761-2063
-----------------
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(Former Address:
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<PAGE> 2
Item 5. Other Events
------------
Attached hereto as Exhibit 99 are certain materials prepared by Morgan
Stanley ABS Capital II Inc. that are required to be filed pursuant to the no-
action letter dated May 20, 1994 issued by the staff of the Securities and
Exchange Commission (the "Commission") to Kidder, Peabody Acceptance Corpora-
tion-1, Kidder, Peabody & Co. Incorporated and Kidder Structured Asset Corpora-
tion and the no-action letter dated February 15, 1995 issued by the staff of
the Commission to the Public Securities Association.
Item 7. Financial Statements, Pro Forma Financial
-----------------------------------------
Information and Exhibits.
------------------------
(a) Not applicable.
(b) Not applicable.
(c) Exhibits: 99
<PAGE> 3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
MORGAN STANLEY ABS CAPITAL II INC.
By: /s/ Murray C. Stoltz
--------------------------------------
Name: Murray C. Stoltz
Dated: August 19, 1997
<PAGE> 4
Exhibit Index
-------------
Exhibit
No.
-------
99 Certain materials prepared by Morgan Stanley ABS Capital II Inc.
that are required to be filed pursuant to the no-action letter
dated May 20, 1994 issued by the staff of the Commission to Kidder,
Peabody Acceptance Corporation-1, Kidder, Peabody & Co. Incorporated
and Kidder Structured Asset Corporation and the no-action letter
dated February 15, 1995 issued by the staff of the Commission to
the Public Securities Association.
<PAGE> 1
[MORGAN STANLEY DEAN WITTER LETTERHEAD] August 15, 1997
ABS NEW TRANSACTION
COMPUTATIONAL MATERIALS
$420,000,000
MORGAN STANLEY ABS CAPITAL II INC.
BANKBOSTON MARINE ASSET-BACKED
TRUST 1997-2
MARINE LOAN ABS
<PAGE> 2
[MORGAN STANLEY DEAN WITTER LETTERHEAD] August 15, 1997
MORGAN STANLEY ABS CAPITAL II INC.
$420,000,000 BANKBOSTON MARINE ASSET-BACKED TRUST 1997-2
COLLATERAL STRATIFICATION
<TABLE>
<CAPTION>
AGGREGATE PERCENT OF AGGREGATE
NUMBER OF PRINCIPAL PRINCIPAL
DISTRIBUTION OF CURRENT BALANCES RECEIVABLES BALANCE BALANCE
<S> <C> <C> <C>
1 - 5,000 123 411,073.21 0.10
5,001 - 10,000 456 3,601,627.08 0.85
10,001 - 15,000 663 8,350,886.20 1.98
15,001 - 20,000 610 10,633,846.69 2.52
20,001 - 30,000 1,244 30,976,162.22 7.33
30,001 - 40,000 744 25,849,066.73 6.11
40,001 - 50,000 540 24,101,313.25 5.70
50,001 - 60,000 386 21,276,714.97 5.03
60,001 - 70,000 293 18,993,978.07 4.49
70,001 - 80,000 229 17,160,252.21 4.06
80,001 - 90,000 168 14,289,920.76 3.38
90,001 - 100,000 206 19,681,278.51 4.66
100,001 - 125,000 357 40,072,830.26 9.48
125,001 - 150,000 254 34,738,240.78 8.22
150,001 - 175,000 160 25,877,313.67 6.12
175,001 - 200,000 109 20,425,259.57 4.83
200,001 - 225,000 48 10,220,273.76 2.42
225,001 - 250,000 50 11,986,788.01 2.84
250,001 - 300,000 76 21,071,906.38 4.98
300,001 - 350,000 41 13,376,424.37 3.16
350,001 - 400,000 28 10,614,652.38 2.51
400,001 - 450,000 15 6,440,455.49 1.52
450,001 - 500,000 13 6,235,176.49 1.47
500,001 - 600,000 10 5,494,790.26 1.30
600,001 - 700,000 13 8,268,431.70 1.96
700,001 - 800,000 6 4,412,389.35 1.04
800,001 - 900,000 1 896,722.27 0.21
900,001 - 1,000,000 1 967,631.21 0.23
1,000,001 greater than or equal to 4 6,343,670.47 1.50
Total: 6,848 422,769,076.32 100.00
Min: 150.02
Max: 1,995,320.77
Average: 61,736.14
</TABLE>
<PAGE> 3
<TABLE>
<CAPTION>
AGGREGATE PERCENT OF AGGREGATE
NUMBER OF PRINCIPAL PRINCIPAL
DISTRIBUTION OF COUPON RECEIVABLES BALANCE BALANCE
<S> <C> <C> <C>
6.501 - 7.000 2 206,698.08 0.05
7.001 - 7.500 14 1,791,946.55 0.42
7.501 - 8.000 330 33,758,135.43 7.99
8.001 - 8.500 1,136 136,029,950.54 32.18
8.501 - 9.000 1,692 124,207,187.02 29.38
9.001 - 9.500 1,466 67,611,185.32 15.99
9.501 - 10.000 908 33,611,016.78 7.95
10.001 - 10.500 486 11,773,351.36 2.78
10.501 - 11.000 419 8,740,727.48 2.07
11.001 - 11.500 155 2,151,278.89 0.51
11.501 - 12.000 122 1,479,680.61 0.35
12.001 greater than or equal to 118 1,407,918.26 0.33
Total: 6,848 422,769,076.32 100.00
Non Zero Min: 6.990
Max: 16.500
Non Zero Weighted Average: 8.909
</TABLE>
<PAGE> 4
<TABLE>
<CAPTION>
AGGREGATE PERCENT OF AGGREGATE
NUMBER OF PRINCIPAL PRINCIPAL
DISTRIBUTION OF REMAINING TERM RECEIVABLES BALANCE BALANCE
<S> <C> <C> <C>
0 1 150.02 0.00
1 - 12 22 131,989.17 0.03
13 - 24 36 281,494.05 0.07
25 - 36 112 1,001,058.42 0.24
37 - 48 153 1,863,501.16 0.44
49 - 60 184 2,957,083.92 0.70
61 - 72 185 3,029,673.42 0.72
73 - 84 302 6,104,585.39 1.44
85 - 96 460 9,760,511.42 2.31
97 - 108 435 11,197,741.14 2.65
109 - 120 494 13,000,601.78 3.08
121 - 132 312 8,918,433.85 2.11
133 - 144 324 14,287,772.60 3.38
145 - 156 936 51,710,392.52 12.23
157 - 168 1,216 72,103,237.87 17.05
169 - 180 804 57,652,645.81 13.64
181 - 192 4 628,858.79 0.15
193 - 204 15 2,392,702.10 0.57
205 - 216 177 28,919,251.97 6.84
217 - 228 302 57,924,546.92 13.70
229 - 240 374 78,902,844.00 18.66
Total: 6,848 422,769,076.32 100.00
Min: 0
Max: 238
Weighted Average: 178
</TABLE>
<PAGE> 5
<TABLE>
<CAPTION>
AGGREGATE PERCENT OF AGGREGATE
NUMBER OF PRINCIPAL PRINCIPAL
DISTRIBUTION OF MONTHS OF SEASONING RECEIVABLES BALANCE BALANCE
<S> <C> <C> <C>
1 - 6 1,214 98,434,562.85 23.28
7 - 12 987 75,018,824.85 17.74
13 - 18 1,698 100,817,205.77 23.85
19 - 24 914 52,814,921.56 12.49
25 - 30 1,232 58,899,411.24 13.93
31 - 36 426 22,386,840.63 5.30
37 - 42 241 7,270,423.58 1.72
43 - 48 126 6,655,845.60 1.57
49 - 54 10 471,040.24 0.11
Total: 6,848 422,769,076.32 100.00
Min: 1
Max: 50
Weighted Average: 16
</TABLE>
<TABLE>
<CAPTION>
AGGREGATE PERCENT OF AGGREGATE
NUMBER OF PRINCIPAL PRINCIPAL
DISTRIBUTION OF YEARS OF ORIGINATION RECEIVABLES BALANCE BALANCE
<S> <C> <C> <C>
1993 119 6,336,884.68 1.50
1994 637 27,540,355.41 6.51
1995 2,091 106,861,337.58 25.28
1996 2,680 170,233,435.85 40.27
1997 1,321 111,797,062.80 26.44
Total: 6,848 422,769,076.32 100.00
Min: 1993-06-15
Max: 1997-06-13
Wgt Avg: 1996-04-13
</TABLE>
<PAGE> 6
<TABLE>
<CAPTION>
AGGREGATE PERCENT OF AGGREGATE
NUMBER OF PRINCIPAL PRINCIPAL
GEOGRAPHIC CONCENTRATION RECEIVABLES BALANCE BALANCE
<S> <C> <C> <C>
Alabama 81 4,159,785.71 0.98
Alaska 17 1,345,467.01 0.32
Arizona 130 6,134,420.31 1.45
Arkansas 41 1,590,224.75 0.38
California 1,680 107,081,677.39 25.33
Colorado 31 2,811,961.53 0.67
Connecticut 337 15,625,428.35 3.70
Delaware 19 1,646,226.15 0.39
District of Columbia 3 146,314.16 0.03
Florida 609 46,268,132.55 10.94
Georgia 78 5,607,382.12 1.33
Hawaii 33 2,603,334.73 0.62
Idaho 8 535,100.61 0.13
Illinois 62 3,058,862.21 0.72
Indiana 20 2,413,419.91 0.57
Iowa 8 404,259.07 0.10
Kansas 21 1,220,891.60 0.29
Kentucky 19 2,276,946.76 0.54
Louisiana 67 4,277,889.94 1.01
Maine 38 1,031,778.69 0.24
Maryland 155 4,194,114.85 0.99
Massachusetts 234 9,845,013.11 2.33
Michigan 24 1,870,996.22 0.44
Minnesota 19 2,208,065.68 0.52
Mississippi 32 1,810,678.92 0.43
Missouri 65 3,780,567.40 0.89
Montana 3 372,553.21 0.09
Nebraska 6 353,145.57 0.08
Nevada 76 5,485,248.24 1.30
New Hampshire 84 2,195,714.18 0.52
New Jersey 266 14,611,922.65 3.46
New Mexico 36 1,644,804.50 0.39
New York 1,089 62,196,332.72 14.71
North Carolina 61 4,146,987.02 0.98
North Dakota 5 287,620.76 0.07
Ohio 39 2,522,472.12 0.60
Oklahoma 47 4,339,320.73 1.03
Oregon 36 3,600,522.84 0.85
</TABLE>
<PAGE> 7
<TABLE>
<CAPTION>
AGGREGATE PERCENT OF AGGREGATE
NUMBER OF PRINCIPAL PRINCIPAL
GEOGRAPHIC CONCENTRATION (CONT.) RECEIVABLES BALANCE BALANCE
<S> <C> <C> <C>
Tennessee 72 5,213,319.94 1.23
Texas 713 50,245,439.72 11.88
Utah 18 1,072,971.48 0.25
Vermont 11 594,773.87 0.14
Virginia 63 3,318,781.60 0.79
Virgin Islands 5 1,055,730.38 0.25
Washington 107 9,842,621.57 2.33
West Virginia 4 65,699.58 0.02
Wisconsin 5 368,289.54 0.09
Wyoming 11 199,753.50 0.05
Other 2 74,004.76 0.02
Total: 6,848 422,769,076.32 100.00
</TABLE>
<TABLE>
<CAPTION>
AGGREGATE PERCENT OF AGGREGATE
NUMBER OF PRINCIPAL PRINCIPAL
ADJUSTMENT TYPE RECEIVABLES BALANCE BALANCE
<S> <C> <C> <C>
Fixed Rate 6,817 400,200,817.24 94.66
Adjustable Rate 31 22,568,259.08 5.34
Total: 6,848 422,769,076.32 100.00
</TABLE>
<TABLE>
<CAPTION>
AGGREGATE PERCENT OF AGGREGATE
PRINCIPAL PRINCIPAL
NUMBER OF BALANCE BALANCE
ADJUSTABLE RATE OF ADJUSTABLE RATE OF ADJUSTABLE RATE
INDEX TYPE RECEIVABLES RECEIVABLES RECEIVABLES
<S> <C> <C> <C>
Treasury - 5 Year 28 21,974,330.43 97.37
Libor - 1 Year 3 593,928.65 2.63
Total: 31 22,568,259.08 100.00
</TABLE>
<PAGE> 8
<TABLE>
<CAPTION>
AGGREGATE PERCENT OF AGGREGATE
PRINCIPAL PRINCIPAL
NUMBER OF BALANCE BALANCE
ADJUSTABLE RATE OF ADJUSTABLE RATE OF ADJUSTABLE RATE
MARGIN RECEIVABLES RECEIVABLES RECEIVABLES
<S> <C> <C> <C>
2.000 2 1,188,660.35 5.27
2.500 21 15,961,654.22 70.73
2.750 4 1,224,948.85 5.43
3.000 4 4,192,995.66 18.58
Total: 31 22,568,259.08 100.00
Min: 2.000
Max: 3.000
Wgt Avg: 2.580
</TABLE>
<PAGE> 9
<TABLE>
<CAPTION>
AGGREGATE PERCENT OF AGGREGATE
PRINCIPAL PRINCIPAL
NUMBER OF BALANCE BALANCE
ADJUSTABLE RATE OF ADJUSTABLE RATE OF ADJUSTABLE RATE
NEXT RATE ADJUSTMENT DATES RECEIVABLES RECEIVABLES RECEIVABLES
<S> <C> <C> <C>
1998-05 2 466,432.51 2.07
1998-06 1 127,496.14 0.56
2000-11 1 967,631.21 4.29
2000-12 2 1,138,081.86 5.04
2001-02 1 1,186,971.10 5.26
2001-04 1 548,132.54 2.43
2001-05 2 1,274,678.15 5.65
2001-06 3 2,118,564.71 9.39
2001-08 1 547,410.71 2.43
2001-09 1 511,759.38 2.27
2001-10 2 1,412,726.49 6.26
2001-11 2 1,787,469.19 7.92
2001-12 3 1,943,795.91 8.61
2002-01 2 2,508,910.01 11.12
2002-02 1 1,995,320.77 8.84
2002-03 2 1,237,066.19 5.48
2002-05 3 2,191,413.16 9.71
2002-06 1 604,399.05 2.68
Total: 31 22,568,259.08 100.00
</TABLE>
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