Amendment No. 1 Dated November 19, 1996 to
PROSPECTUS Dated May 1, 1996 Pricing Supplement No. 42 to
PROSPECTUS SUPPLEMENT Registration Statement No. 333-01655
Dated May 2, 1996 Dated October 25, 1996; Rule 424(b)(3)
Morgan Stanley Group Inc.
GLOBAL MEDIUM-TERM NOTES, SERIES D
Senior Euro Fixed Rate Notes Due 2003
The Global Medium-Term Notes, Series D (Senior Euro Fixed Rate Notes
Due 2003) 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 Global Medium-Term Notes, Series D of the Company, including the
Notes, have been listed on the London Stock Exchange Limited (the "London
Stock Exchange"), and application has been made to list the Notes on the
Bourse de Paris (the "Paris Bourse").
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:
FF 1,000,000,000
MATURITY DATE:
November 26, 2003
DATE OF ISSUANCE AND
SETTLEMENT DATE:
November 26, 1996
INTEREST ACCRUAL DATE:
November 26, 1996
TOTAL AMOUNT OF OID:
N/A
ORIGINAL YIELD TO MATURITY:
N/A
ISSUE PRICE:
101.254% See "Plan of Distribution"
below.
REDEMPTION PRICE: 100.000%
FISCAL AGENT:
The Chase Manhattan Bank
(London Branch)
PAYING AGENT:
Credit Lyonnais
INITIAL REDEMPTION DATE:
N/A
INITIAL REDEMPTION
PERCENTAGE: N/A
ANNUAL REDEMPTION
PERCENTAGE REDUCTION:
N/A
INITIAL ACCRUAL PERIOD OID:
N/A
INTEREST RATE: 5.875%
INTEREST PAYMENT DATES:
Each November 26, commencing
November 26, 1997
BUSINESS DAYS:
New York, Paris
EXCHANGE DATE:
40 Days after Date of Issuance
(at the earliest)
APPLICABILITY OF MODIFIED
PAYMENT UPON ACCELERATION:
N/A
IF YES, STATE ISSUE PRICE: N/A
OPTIONAL REPAYMENT DATE(S):
N/A
DENOMINATIONS:
FF 10,000 (10,000 Notes) and
FF 100,000 (9,000 Notes)
SPECIFIED CURRENCY:
French Francs
CALCULATION AGENT:
N/A
COMMON CODE: 7095171
ISIN: XS0070951719
CODE SICOVAM: 10895
OTHER PROVISIONS: N/A
Capitalized terms not defined above have the meanings given to such terms in
the accompanying Prospectus Supplement.
Morgan Stanley S.A.
Credit Lyonnais Societe Generale
Banque Nationale de Paris Credit Agricole
Caisse Centrale des Banques Populaires Credit Commercial de France
Caisse des Depots et Consignations Paribas Capital Markets
Plan of Distribution:
On October 25 , 1996, the Company agreed to sell to the managers listed in
this Pricing Supplement (the "Managers"), and the Managers severally agreed to
purchase, the number of Notes set forth opposite their respective names below
at a net price of 99.379%, which Notes were reoffered at a price of 99.754%.
Name Principal Amount of Notes
- ---- -------------------------
Morgan Stanley S.A....................... FF 680,000,000
Credit Lyonnais.......................... 100,000,000
Societe Generale......................... 100,000,000
Banque Nationale de Paris................ 20,000,000
Banque Paribas .......................... 20,000,000
Caisse Centrale des Banques Populaires... 20,000,000
Caisse des Depots et Consignations....... 20,000,000
Caisse Nationale de Credit Agricole ..... 20,000,000
Credit Commercial de France.............. 20,000,000
-------------
Total.............................. FF 1,000,000,000
=============
The Notes are being issued outside France and may not be offered to the
public in France.
The Company has undertaken not to offer, directly or indirectly, any
Notes to the public in France.
Each Manager has represented and agreed that it has not offered or sold and
will not offer or sell, directly or indirectly, any Notes to the public in
France, and that it has not distributed and will not distribute or cause to be
distributed to the public in France the Prospectus or any amendment,
supplement or replacement thereto including the Pricing Supplement or any
other offering material relating to the Notes.
In connection with the issue of the Notes, the documentation will be
available for inspection at the offices of Credit Lyonnais, the Paying
Agent, in France, located at:
DOFE Centre Titres Paris
Secteur RSV
2 Ter Boulevard Saint Martin
75010 Paris
BC 382 01
PERSONNES QUI ASSUMENT
LA RESPONSABILITE DE LA NOTE D'INFORMATION
COMPOSEE DE LA PRESENTE NOTE D'OPERATION
(PRICING SUPPLEMENT) ET DU PROSPECTUS ET DU PROSPECTUS SUPPLEMENT ENREGISTRES
PAR LA COMMISSION DES OPERATIONS DE BOURSE SOUS LE NUMERO D'ENREGISTREMENT
UNIQUE
P96-095 DU 30 AVRIL 1996
1. Au nom de l'emetteur
A la connaissance de l'emetteur, les donnees de la presente Note d'Information
sont conformes a la realite et ne comportent pas d'omission de nature a en
alterer la portee.
Aucun element nouveau, autres que ceux mentionnes dans la presente Note
d'Operation, intervenu depuis le 30 avril 1996, date du no. d'enregistrement
unique P96-095 appose par la Commission des Operations de Bourse sur le
Prospectus et le Prospectus Supplement, n'est susceptible d'affecter de
maniere significative la situation financiere de l'emetteur dans le contexte
de la presente emission.
Morgan Stanley Group Inc.
_________________________
Eileen K. Murray
Treasurer
2. Au nom de la banque presentatrice
Personne assumant la responsabilite de la presente Note d'Information.
Morgan Stanley S.A.
_______________________
Patrice Vial
Managing Director
La notice legale sera publiee au Bulletin des Annonces Legales Obligatoires
(BALO) du 25 novembre 1996.
La presente Note d'Information ne peut pas etre distribuee en France avant la
date effective de cotation de l'emprunt a la Bourse de Paris et la publicite
legale au BALO.
VISAS DE LA COMMISSION DES OPERATIONS DE BOURSE
En vue de la cotation a Paris des obligations, et par application des articles
6 et 7 de l'ordonnance No. 67-833 du 28 septembre 1967, la Commission des
Operations de Bourse a appose sur la presente Note d'Information le visa no.
96-533 du 19 novembre 1996.
