PROSPECTUS Dated January 24, 1997 Pricing Supplement No. 12 to
PROSPECTUS SUPPLEMENT Registration Statement No. 333-18005
Dated February 21, 1997 Dated March 6, 1997; Rule 424(b)(3)
Morgan Stanley Group Inc.
GLOBAL MEDIUM-TERM NOTES, SERIES E
Senior Euro Fixed Rate Bearer Notes Due March 18, 2002
The Global Medium-Term Notes, Series E (Senior Euro Fixed Rate
Bearer Notes Due March 18, 2002) described in this Pricing Supplement (the
"Notes") will mature on the Maturity Date. The Notes will be redeemable, in
whole, but not in part, at the option of Morgan Stanley Group Inc. (the
"Company") upon 30 to 35 calendar days notice on December 18, 1997 and on each
March 18 thereafter and also 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: YEN 1,000,000,000
MATURITY DATE: March 18, 2002
DATE OF ISSUANCE AND SETTLEMENT DATE: March 18, 1997
INTEREST ACCRUAL DATE: March 18, 1997
ISSUE PRICE: 100%
SPECIFIED CURRENCY: Japanese Yen
REDEMPTION PRICE: 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 December 18, 1997 and on each March 18 thereafter
INITIAL REDEMPTION DATE: December 18, 1997
INITIAL REDEMPTION PERCENTAGE: 100%
ANNUAL REDEMPTION PERCENTAGE REDUCTION: N/A
INTEREST RATE: as set forth beside the applicable interest payment periods
below:
Interest Interest Rate
Payment Period (per annum)
-------------- -------------
From and including 1.40%
March 18, 1997 to
and excluding
December 18, 1997
From and including 1.50%
December 18, 1997 to
and excluding
March 18, 1998
From and including 1.75%
March 18, 1998 to
and excluding
March 18, 1999
From and including 2.00%
March 18, 1999 to
and excluding
March 18, 2000
From and including 2.25%
March 18, 2000 to
and excluding
March 18, 2001
From and including 2.50%
March 18, 2001 to
and excluding
March 18, 2002
INTEREST PAYMENT DATES: December 18, 1997 and each March 18 thereafter
OPTIONAL REPAYMENT DATE(S): N/A
TOTAL AMOUNT OF OID: N/A
ORIGINAL YIELD TO MATURITY: N/A
INITIAL ACCRUAL PERIOD OID: N/A
APPLICABILITY OF MODIFIED PAYMENT UPON ACCELERATION: N/A
IF YES, STATE ISSUE PRICE: N/A
PAYING AGENT: The Chase Manhattan Bank (London Branch)
DENOMINATIONS: YEN 100,000,000
CALCULATION AGENT: N/A
BUSINESS DAYS: Tokyo, New York, London
ISIN: XS0074669275
COMMON CODE: 7466927
Capitalized terms not defined above have the meanings given to such
terms in the accompanying Prospectus Supplement.
MORGAN STANLEY & CO.
International
