PROSPECTUS Dated January 24, 1997 Pricing Supplement No. 37 to
PROSPECTUS SUPPLEMENT Registration Statement No. 333-18005
Dated January 24, 1997 April 24, 1997
Rule 424(b)(3)
Morgan Stanley Group Inc.
MEDIUM-TERM NOTES, SERIES C
Senior Fixed Rate Notes
The Fixed Rate Notes, as further described below and in the
Prospectus Supplement under "Description of Notes--Fixed Rate Notes," will
bear interest from the date of issuance until the principal amount thereof
is paid or made available for payment at the rate set forth below.
The Fixed Rate Notes will be redeemable in whole, but not in part, at
the option of Morgan Stanley Group Inc. upon 30 to 35 calendar days notice
on any May 8 or November 8, commencing May 8, 1999.
Principal Amount: $10,000,000
Maturity Date: May 8, 2017
Settlement Date
(Original Issue
Date): May 8, 1997
Interest Accrual
Date: May 8, 1997
Issue Price: 100%
Specified Currency: U.S. Dollars
Redemption
Percentage: 100%
Redemption Dates: Redeemable in whole, but not in part, at the option
of Morgan Stanley Group Inc. upon 30 to 35 calendar
days notice on any May 8 or November 8,
commencing May 8, 1999
Annual Redemption
Percentage Reduction: N/A
Interest Rate: 8.00% per annum
Interest Payment
Dates: Each May 8 and November 8, commencing
November 8, 1997
Interest Payment
Period: Semi-annually
Total Amount of OID: N/A
Original Yield to
Maturity: N/A
Initial Accrual
Period OID: N/A
Book Entry Note or
Certificated Note: Book Entry Note
Senior Note or
Subordinated Note: Senior Note
Trustee: The Chase Manhattan Bank
Minimum Denomination: $1,000
CUSIP: 61745EKH3
Capitalized terms not defined above have the meanings given to such terms in
the accompanying Prospectus Supplement.
MORGAN STANLEY & CO.
Incorporated
