PROSPECTUS Dated January 24, 1997 Pricing Supplement No. 18 to
PROSPECTUS SUPPLEMENT Registration Statement No. 333-18005
Dated January 24, 1997 March 11, 1997
Rule 424(b)(3)
Morgan Stanley Group Inc.
MEDIUM-TERM NOTES, SERIES C
Senior Fixed Rate Notes
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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 rates
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 April 3 or October 3, commencing April 3, 2001.
Principal Amount: $15,000,000
Interest Rate: as set forth beside the applicable Interest Payment
Date below:
Interest Interest Rate
Payment Date (per annum)
------------ -------------
October 3, 1997 7.000%
and April 3, 1998
October 3, 1998 7.000%
and April 3, 1999
October 3, 1999 7.000%
and April 3, 2000
October 3, 2000 7.000%
and April 3, 2001
October 3, 2001 7.375%
and April 3, 2002
October 3, 2002 7.375%
and April 3, 2003
October 3, 2003 7.750%
and April 3, 2004
October 3, 2004 7.750%
and April 3, 2005
October 3, 2005 8.125%
and April 3, 2006
October 3, 2006 8.125%
and April 3, 2007
October 3, 2007 8.500%
and April 3, 2008
October 3, 2008 8.500%
and April 3, 2009
October 3, 2009 9.000%
and April 3, 2010
October 3, 2010 9.000%
and April 3, 2011
October 3, 2011 9.000%
and April 3, 2012
Book Entry Note or Certificated Note: Book Entry Note
Senior Note or Subordinated Note: Senior Note
Maturity Date: April 3, 2012
Interest Accrual Date: April 3, 1997
Interest Payment Dates: Each April 3 and October 3, commencing
October 3, 1997
Interest Payment Period: Semi-annually
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 April 3 or October 3, commencing April 3,
2001
Redemption Percentage: 100%
Annual Redemption Percentage Reduction: N/A
Total Amount of OID: N/A
Original Yield to Maturity: N/A
Initial Accrual Period OID: N/A
Specified Currency: U.S. Dollars
Issue Price: 100%
Settlement Date (Original Issue Date): April 3, 1997
Minimum Denomination: $1,000
Trustee: The Chase Manhattan Bank
CUSIP: 61745EJW2
On March 11, 1997, the Company agreed to sell to Morgan Stanley & Co.
Incorporated $7,500,000 of Notes and to Dean Witter Reynolds, Inc. $7,500,000
of Notes, and each of such co-managers agreed to purchase such Notes, at a net
price of 97.90%, which Notes were initially reoffered at 100%.
Capitalized terms not defined above have the meanings given to such
terms in the accompanying Prospectus Supplement.
MORGAN STANLEY & CO. DEAN WITTER REYNOLDS, INC.
Incorporated
