▇▇▇▇▇▇ ▇▇▇▇▇▇▇
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06/10/2002 10:39:28 CARVE Version 700.0 /u/▇▇▇▇▇▇/deal/MSDW_2002-IQ/0610/iq2.pxtalk.0610.carve
MSDWC MSDW Capital I Trust Series 2002-IQ2 (Red) Class A1
===================================================================================================================================
Class A1 Settlement Date 06/27/2002 Coupon 4.38000 Cusip N/A
Original Balance 118,000,000.00 Dated Date 06/01/2002 Delay 14 Yield Table Date 06/10/2002
Current Balance 118,000,000.00 First Payment Date 07/15/2002 Lead Manager ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Yield Frequency SemiAnnual
Credit Rating AAA/AAA Next Payment Date 07/15/2002 Orig Deal Size 785,022,586.42 Yield Day Count 30/360
Market Desc N/A Payment Freq Monthly Num of Tranches 21
Factor 1.00000000 Interest Freq Monthly Deal Age 0
Prepay CPR 0 (!YM) CPR 25 (!YM) CPR 50 (!YM) CPR 75 (!YM) CPR 100
--------------------------------------------------------------------------------------------
Price / Yield |
--------------------------------------------------------------------------------------------
99/09 | 4.6301 4.6302 4.6304 4.6305 4.6310
99/11 | 4.6061 4.6062 4.6063 4.6065 4.6069
99/13 | 4.5821 4.5822 4.5823 4.5824 4.5828
99/15 | 4.5581 4.5582 4.5583 4.5584 4.5587
99/17 | 4.5342 4.5342 4.5343 4.5344 4.5347
99/19 | 4.5102 4.5103 4.5104 4.5104 4.5106
99/21 | 4.4863 4.4864 4.4864 4.4865 4.4866
99/23 | 4.4624 4.4625 4.4625 4.4625 4.4626
99/25 | 4.4386 4.4386 4.4386 4.4386 4.4387
99/27 | 4.4147 4.4147 4.4147 4.4147 4.4147
99/29 | 4.3909 4.3909 4.3909 4.3909 4.3908
99/31 | 4.3671 4.3671 4.3670 4.3670 4.3669
100/01 | 4.3433 4.3433 4.3432 4.3432 4.3430
100/03 | 4.3196 4.3195 4.3194 4.3194 4.3191
100/05 | 4.2958 4.2958 4.2957 4.2956 4.2953
100/07 | 4.2721 4.2720 4.2719 4.2718 4.2715
100/09 | 4.2484 4.2483 4.2482 4.2481 4.2477
100/11 | 4.2248 4.2246 4.2245 4.2244 4.2239
100/13 | 4.2011 4.2010 4.2008 4.2007 4.2002
100/15 | 4.1775 4.1773 4.1772 4.1770 4.1765
100/17 | 4.1539 4.1537 4.1535 4.1534 4.1528
100/19 | 4.1303 4.1301 4.1299 4.1297 4.1291
100/21 | 4.1068 4.1066 4.1063 4.1061 4.1054
100/23 | 4.0832 4.0830 4.0828 4.0825 4.0818
100/25 | 4.0597 4.0595 4.0592 4.0590 4.0582
--------------------------------------------------------------------------------------------
Average Life | 2.89 2.89 2.88 2.88 2.87
First Prin | 07/15/2002 07/15/2002 07/15/2002 07/15/2002 07/15/2002
Last Prin | 05/15/2007 05/15/2007 04/15/2007 03/15/2007 02/15/2007
Payment Window | 59 59 58 57 56
Accrual Factor | 0.3163 0.3163 0.3163 0.3163 0.3163
Mod Duration @ 100/01 | 2.62 2.62 2.62 2.62 2.61
Page 1 of 7
-----------------------------------------------------------------------------------------------------------------------------------
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in
determining whether they have an interest in the type of security described herein. It has been prepared solely for information
purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to
participate in any trading strategy. No representation or warranty can be given with respect to the accuracy or completeness of the
information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of
securities would be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the
issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the
event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such
Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information
in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon
such Prospectus or Private Placement Memorandum. Certain assumptions may have been made in this analysis which have resulted in any
returns detailed herein. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have
a material impact on any returns detailed. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated disclaims any and all liability relating to this
information, including without limitation any express or implied representations or warranties for, statements contained in, and
omissions from, this information. Additional information is available upon request. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated and others
associated with it may have positions in, and may effect transaction in, securities and instruments of issuers mentioned herein and
may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past
performance is not necessarily indicative of future results. Price and availability are subject to change without notice. To our
readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley&Co. Incorporated, approved by
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International Limited, a member of The Securities and Futures Authority, any by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Japan Ltd. We
recommend that such investors obtain the advice of their ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International or ▇▇▇▇▇▇
▇▇▇▇▇▇▇ Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINEDBYTHE U.K.
SECURITIESANDFUTURES AUTHORITY.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇
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06/10/2002 10:39:28 CARVE Version 700.0 /u/▇▇▇▇▇▇/deal/MSDW_2002-IQ/0610/iq2.pxtalk.0610.carve
MSDWC MSDW Capital I Trust Series 2002-IQ2 (Red) Class A2
===================================================================================================================================
Class A2 Settlement Date 06/27/2002 Coupon 5.45000 Cusip N/A
Original Balance 131,500,000.00 Dated Date 06/01/2002 Delay 14 Yield Table Date 06/10/2002
Current Balance 131,500,000.00 First Payment Date 07/15/2002 Lead Manager ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Yield Frequency SemiAnnual
Credit Rating AAA/AAA Next Payment Date 07/15/2002 Orig Deal Size 785,022,586.42 Yield Day Count 30/360
Market Desc N/A Payment Freq Monthly Num of Tranches 21
Factor 1.00000000 Interest Freq Monthly Deal Age 0
Prepay CPR 0 (!YM) CPR 25 (!YM) CPR 50 (!YM) CPR 75 (!YM) CPR 100
--------------------------------------------------------------------------------------------
Price / Yield |
--------------------------------------------------------------------------------------------
99/25 | 5.5136 5.5136 5.5136 5.5136 5.5136
99/27 | 5.5006 5.5006 5.5006 5.5006 5.5004
99/29 | 5.4877 5.4876 5.4876 5.4875 5.4871
99/31 | 5.4747 5.4746 5.4746 5.4745 5.4738
100/01 | 5.4617 5.4617 5.4616 5.4615 5.4606
100/03 | 5.4488 5.4487 5.4486 5.4484 5.4474
100/05 | 5.4358 5.4358 5.4356 5.4354 5.4341
100/07 | 5.4229 5.4228 5.4227 5.4224 5.4209
100/09 | 5.4100 5.4099 5.4097 5.4095 5.4077
100/11 | 5.3971 5.3970 5.3968 5.3965 5.3945
100/13 | 5.3842 5.3840 5.3838 5.3835 5.3813
100/15 | 5.3713 5.3711 5.3709 5.3705 5.3682
100/17 | 5.3584 5.3582 5.3580 5.3576 5.3550
100/19 | 5.3456 5.3454 5.3451 5.3447 5.3418
100/21 | 5.3327 5.3325 5.3322 5.3317 5.3287
100/23 | 5.3198 5.3196 5.3193 5.3188 5.3155
100/25 | 5.3070 5.3068 5.3064 5.3059 5.3024
100/27 | 5.2942 5.2939 5.2936 5.2930 5.2893
100/29 | 5.2814 5.2811 5.2807 5.2801 5.2762
100/31 | 5.2685 5.2682 5.2679 5.2672 5.2631
101/01 | 5.2557 5.2554 5.2550 5.2544 5.2500
101/03 | 5.2429 5.2426 5.2422 5.2415 5.2369
101/05 | 5.2302 5.2298 5.2294 5.2287 5.2239
101/07 | 5.2174 5.2170 5.2166 5.2158 5.2108
101/09 | 5.2046 5.2043 5.2038 5.2030 5.1978
--------------------------------------------------------------------------------------------
Average Life | 5.75 5.75 5.73 5.72 5.61
First Prin | 05/15/2007 05/15/2007 04/15/2007 03/15/2007 02/15/2007
Last Prin | 04/15/2009 04/15/2009 04/15/2009 04/15/2009 01/15/2009
Payment Window | 24 24 25 26 24
Accrual Factor | 0.3936 0.3936 0.3936 0.3936 0.3936
Mod Duration @ 100/17 | 4.81 4.80 4.80 4.78 4.71
Page 2 of 7
-----------------------------------------------------------------------------------------------------------------------------------
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in
determining whether they have an interest in the type of security described herein. It has been prepared solely for information
purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to
participate in any trading strategy. No representation or warranty can be given with respect to the accuracy or completeness of the
information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of
securities would be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the
issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the
event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such
Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information
in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon
such Prospectus or Private Placement Memorandum. Certain assumptions may have been made in this analysis which have resulted in any
returns detailed herein. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have
a material impact on any returns detailed. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated disclaims any and all liability relating to this
information, including without limitation any express or implied representations or warranties for, statements contained in, and
omissions from, this information. Additional information is available upon request. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated and others
associated with it may have positions in, and may effect transaction in, securities and instruments of issuers mentioned herein and
may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past
performance is not necessarily indicative of future results. Price and availability are subject to change without notice. To our
readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley&Co. Incorporated, approved by
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International Limited, a member of The Securities and Futures Authority, any by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Japan Ltd. We
recommend that such investors obtain the advice of their ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International or ▇▇▇▇▇▇
▇▇▇▇▇▇▇ Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINEDBYTHE U.K.
SECURITIESANDFUTURES AUTHORITY.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇
-----------------------------------------------------------------------------------------------------------------------------------
06/10/2002 10:39:28 CARVE Version 700.0 /u/▇▇▇▇▇▇/deal/MSDW_2002-IQ/0610/iq2.pxtalk.0610.carve
MSDWC MSDW Capital I Trust Series 2002-IQ2 (Red) Class A3
===================================================================================================================================
Class A3 Settlement Date 06/27/2002 Coupon 5.79000 Cusip N/A
Original Balance 151,000,000.00 Dated Date 06/01/2002 Delay 14 Yield Table Date 06/10/2002
Current Balance 151,000,000.00 First Payment Date 07/15/2002 Lead Manager ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Yield Frequency SemiAnnual
Credit Rating AAA/AAA Next Payment Date 07/15/2002 Orig Deal Size 785,022,586.42 Yield Day Count 30/360
Market Desc N/A Payment Freq Monthly Num of Tranches 21
Factor 1.00000000 Interest Freq Monthly Deal Age 0
Prepay CPR 0 (!YM) CPR 25 (!YM) CPR 50 (!YM) CPR 75 (!YM) CPR 100
----------------------------------------------------------------------------------------------
Price / Yield |
----------------------------------------------------------------------------------------------
99/25+ | 5.8567 5.8567 5.8567 5.8567 5.8566
99/27+ | 5.8465 5.8465 5.8465 5.8465 5.8464
99/29+ | 5.8364 5.8364 5.8363 5.8363 5.8361
99/31+ | 5.8263 5.8262 5.8262 5.8261 5.8258
100/01+ | 5.8162 5.8161 5.8161 5.8160 5.8156
100/03+ | 5.8061 5.8060 5.8059 5.8058 5.8054
100/05+ | 5.7960 5.7959 5.7958 5.7957 5.7951
100/07+ | 5.7859 5.7858 5.7857 5.7856 5.7849
100/09+ | 5.7758 5.7757 5.7756 5.7754 5.7747
100/11+ | 5.7657 5.7656 5.7655 5.7653 5.7645
100/13+ | 5.7557 5.7555 5.7554 5.7552 5.7543
100/15+ | 5.7456 5.7455 5.7453 5.7451 5.7441
100/17+ | 5.7356 5.7354 5.7352 5.7350 5.7339
100/19+ | 5.7255 5.7253 5.7251 5.7249 5.7237
100/21+ | 5.7155 5.7153 5.7151 5.7148 5.7136
100/23+ | 5.7055 5.7052 5.7050 5.7048 5.7034
100/25+ | 5.6954 5.6952 5.6950 5.6947 5.6933
100/27+ | 5.6854 5.6852 5.6849 5.6846 5.6831
100/29+ | 5.6754 5.6752 5.6749 5.6746 5.6730
100/31+ | 5.6654 5.6652 5.6649 5.6646 5.6628
101/01+ | 5.6555 5.6552 5.6549 5.6545 5.6527
101/03+ | 5.6455 5.6452 5.6449 5.6445 5.6426
101/05+ | 5.6355 5.6352 5.6348 5.6345 5.6325
101/07+ | 5.6255 5.6252 5.6249 5.6245 5.6224
101/09+ | 5.6156 5.6152 5.6149 5.6145 5.6123
----------------------------------------------------------------------------------------------
Average Life | 7.89 7.88 7.86 7.85 7.76
First Prin | 04/15/2009 04/15/2009 04/15/2009 04/15/2009 01/15/2009
Last Prin | 08/15/2011 08/15/2011 07/15/2011 07/15/2011 05/15/2011
Payment Window | 29 29 28 28 29
Accrual Factor | 0.4182 0.4182 0.4182 0.4182 0.4182
Mod Duration @ 100/17+ | 6.16 6.15 6.14 6.13 6.08
Page 3 of 7
-----------------------------------------------------------------------------------------------------------------------------------
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in
determining whether they have an interest in the type of security described herein. It has been prepared solely for information
purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to
participate in any trading strategy. No representation or warranty can be given with respect to the accuracy or completeness of the
information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of
securities would be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the
issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the
event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such
Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information
in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon
such Prospectus or Private Placement Memorandum. Certain assumptions may have been made in this analysis which have resulted in any
returns detailed herein. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have
a material impact on any returns detailed. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated disclaims any and all liability relating to this
information, including without limitation any express or implied representations or warranties for, statements contained in, and
omissions from, this information. Additional information is available upon request. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated and others
associated with it may have positions in, and may effect transaction in, securities and instruments of issuers mentioned herein and
may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past
performance is not necessarily indicative of future results. Price and availability are subject to change without notice. To our
readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley&Co. Incorporated, approved by
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International Limited, a member of The Securities and Futures Authority, any by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Japan Ltd. We
recommend that such investors obtain the advice of their ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International or ▇▇▇▇▇▇
▇▇▇▇▇▇▇ Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINEDBYTHE U.K.
SECURITIESANDFUTURES AUTHORITY.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇
-----------------------------------------------------------------------------------------------------------------------------------
06/10/2002 10:39:28 CARVE Version 700.0 /u/▇▇▇▇▇▇/deal/MSDW_2002-IQ/0610/iq2.pxtalk.0610.carve
MSDWC MSDW Capital I Trust Series 2002-IQ2 (Red) Class A4
===================================================================================================================================
Class A4 Settlement Date 06/27/2002 Coupon 5.99000 Cusip N/A
Original Balance 267,750,000.00 Dated Date 06/01/2002 Delay 14 Yield Table Date 06/10/2002
Current Balance 267,750,000.00 First Payment Date 07/15/2002 Lead Manager ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Yield Frequency SemiAnnual
Credit Rating AAA/AAA Next Payment Date 07/15/2002 Orig Deal Size 785,022,586.42 Yield Day Count 30/360
Market Desc N/A Payment Freq Monthly Num of Tranches 21
Factor 1.00000000 Interest Freq Monthly Deal Age 0
Prepay CPR 0 (!YM) CPR 25 (!YM) CPR 50 (!YM) CPR 75 (!YM) CPR 100
---------------------------------------------------------------------------------------------
Price / Yield |
---------------------------------------------------------------------------------------------
99/23+ | 6.0698 6.0698 6.0698 6.0698 6.0698
99/25+ | 6.0611 6.0611 6.0611 6.0610 6.0610
99/27+ | 6.0524 6.0524 6.0523 6.0523 6.0522
99/29+ | 6.0437 6.0437 6.0436 6.0436 6.0434
99/31+ | 6.0350 6.0350 6.0350 6.0349 6.0346
100/01+ | 6.0263 6.0263 6.0263 6.0262 6.0258
100/03+ | 6.0177 6.0176 6.0176 6.0175 6.0170
100/05+ | 6.0090 6.0090 6.0089 6.0089 6.0082
100/07+ | 6.0004 6.0003 6.0003 6.0002 5.9994
100/09+ | 5.9917 5.9917 5.9916 5.9915 5.9907
100/11+ | 5.9831 5.9830 5.9830 5.9829 5.9819
100/13+ | 5.9744 5.9744 5.9743 5.9742 5.9732
100/15+ | 5.9658 5.9658 5.9657 5.9655 5.9644
100/17+ | 5.9572 5.9571 5.9570 5.9569 5.9557
100/19+ | 5.9486 5.9485 5.9484 5.9483 5.9470
100/21+ | 5.9400 5.9399 5.9398 5.9396 5.9382
100/23+ | 5.9314 5.9313 5.9312 5.9310 5.9295
100/25+ | 5.9228 5.9227 5.9226 5.9224 5.9208
100/27+ | 5.9142 5.9141 5.9140 5.9138 5.9121
100/29+ | 5.9056 5.9055 5.9054 5.9052 5.9034
100/31+ | 5.8971 5.8970 5.8968 5.8966 5.8947
101/01+ | 5.8885 5.8884 5.8882 5.8880 5.8860
101/03+ | 5.8799 5.8798 5.8797 5.8794 5.8773
101/05+ | 5.8714 5.8713 5.8711 5.8709 5.8687
101/07+ | 5.8629 5.8627 5.8625 5.8623 5.8600
---------------------------------------------------------------------------------------------
Average Life | 9.74 9.73 9.72 9.71 9.56
First Prin | 08/15/2011 08/15/2011 07/15/2011 07/15/2011 05/15/2011
Last Prin | 11/15/2012 10/15/2012 10/15/2012 10/15/2012 10/15/2012
Payment Window | 16 15 16 16 18
Accrual Factor | 0.4326 0.4326 0.4326 0.4326 0.4326
Mod Duration @ 100/15+ | 7.18 7.18 7.17 7.16 7.08
Page 4 of 7
-----------------------------------------------------------------------------------------------------------------------------------
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in
determining whether they have an interest in the type of security described herein. It has been prepared solely for information
purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to
participate in any trading strategy. No representation or warranty can be given with respect to the accuracy or completeness of the
information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of
securities would be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the
issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the
event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such
Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information
in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon
such Prospectus or Private Placement Memorandum. Certain assumptions may have been made in this analysis which have resulted in any
returns detailed herein. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have
a material impact on any returns detailed. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated disclaims any and all liability relating to this
information, including without limitation any express or implied representations or warranties for, statements contained in, and
omissions from, this information. Additional information is available upon request. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated and others
associated with it may have positions in, and may effect transaction in, securities and instruments of issuers mentioned herein and
may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past
performance is not necessarily indicative of future results. Price and availability are subject to change without notice. To our
readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley&Co. Incorporated, approved by
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International Limited, a member of The Securities and Futures Authority, any by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Japan Ltd. We
recommend that such investors obtain the advice of their ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International or ▇▇▇▇▇▇
▇▇▇▇▇▇▇ Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINEDBYTHE U.K.
SECURITIESANDFUTURES AUTHORITY.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇
-----------------------------------------------------------------------------------------------------------------------------------
06/10/2002 10:39:28 CARVE Version 700.0 /u/▇▇▇▇▇▇/deal/MSDW_2002-IQ/0610/iq2.pxtalk.0610.carve
MSDWC MSDW Capital I Trust Series 2002-IQ2 (Red) Class B
===================================================================================================================================
Class B Settlement Date 06/27/2002 Coupon 6.20000 Cusip N/A
Original Balance 25,513,000.00 Dated Date 06/01/2002 Delay 14 Yield Table Date 06/10/2002
Current Balance 25,513,000.00 First Payment Date 07/15/2002 Lead Manager ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Yield Frequency SemiAnnual
Credit Rating AA/AA Next Payment Date 07/15/2002 Orig Deal Size 785,022,586.42 Yield Day Count 30/360
Market Desc N/A Payment Freq Monthly Num of Tranches 21
Factor 1.00000000 Interest Freq Monthly Deal Age 0
Prepay CPR 0 (!YM) CPR 25 (!YM) CPR 50 (!YM) CPR 75 (!YM) CPR 100
--------------------------------------------------------------------------------------------
Price / Yield |
--------------------------------------------------------------------------------------------
99/24 | 6.2817 6.2817 6.2817 6.2817 6.2817
99/26 | 6.2737 6.2737 6.2737 6.2737 6.2737
99/28 | 6.2657 6.2657 6.2657 6.2656 6.2656
99/30 | 6.2576 6.2576 6.2576 6.2576 6.2575
100/00 | 6.2496 6.2496 6.2496 6.2496 6.2495
100/02 | 6.2416 6.2416 6.2416 6.2416 6.2414
100/04 | 6.2336 6.2336 6.2336 6.2335 6.2334
100/06 | 6.2256 6.2256 6.2256 6.2255 6.2253
100/08 | 6.2176 6.2176 6.2175 6.2175 6.2173
100/10 | 6.2096 6.2096 6.2096 6.2095 6.2093
100/12 | 6.2016 6.2016 6.2016 6.2015 6.2012
100/14 | 6.1937 6.1936 6.1936 6.1935 6.1932
100/16 | 6.1857 6.1856 6.1856 6.1856 6.1852
100/18 | 6.1777 6.1777 6.1776 6.1776 6.1772
100/20 | 6.1698 6.1697 6.1697 6.1696 6.1692
100/22 | 6.1618 6.1618 6.1617 6.1617 6.1612
100/24 | 6.1539 6.1538 6.1538 6.1537 6.1532
100/26 | 6.1460 6.1459 6.1458 6.1458 6.1453
100/28 | 6.1380 6.1379 6.1379 6.1378 6.1373
100/30 | 6.1301 6.1300 6.1299 6.1299 6.1293
101/00 | 6.1222 6.1221 6.1220 6.1220 6.1214
101/02 | 6.1143 6.1142 6.1141 6.1140 6.1134
101/04 | 6.1064 6.1063 6.1062 6.1061 6.1055
101/06 | 6.0985 6.0984 6.0983 6.0982 6.0975
101/08 | 6.0906 6.0905 6.0904 6.0903 6.0896
--------------------------------------------------------------------------------------------
Average Life | 11.04 11.03 11.02 11.01 10.95
First Prin | 11/15/2012 10/15/2012 10/15/2012 10/15/2012 10/15/2012
Last Prin | 02/15/2014 02/15/2014 02/15/2014 02/15/2014 02/15/2014
Payment Window | 16 17 17 17 17
Accrual Factor | 0.4478 0.4478 0.4478 0.4478 0.4478
Mod Duration @ 100/16 | 7.77 7.77 7.77 7.76 7.73
Page 5 of 7
-----------------------------------------------------------------------------------------------------------------------------------
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in
determining whether they have an interest in the type of security described herein. It has been prepared solely for information
purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to
participate in any trading strategy. No representation or warranty can be given with respect to the accuracy or completeness of the
information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of
securities would be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the
issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the
event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such
Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information
in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon
such Prospectus or Private Placement Memorandum. Certain assumptions may have been made in this analysis which have resulted in any
returns detailed herein. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have
a material impact on any returns detailed. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated disclaims any and all liability relating to this
information, including without limitation any express or implied representations or warranties for, statements contained in, and
omissions from, this information. Additional information is available upon request. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated and others
associated with it may have positions in, and may effect transaction in, securities and instruments of issuers mentioned herein and
may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past
performance is not necessarily indicative of future results. Price and availability are subject to change without notice. To our
readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley&Co. Incorporated, approved by
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International Limited, a member of The Securities and Futures Authority, any by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Japan Ltd. We
recommend that such investors obtain the advice of their ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International or ▇▇▇▇▇▇
▇▇▇▇▇▇▇ Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINEDBYTHE U.K.
SECURITIESANDFUTURES AUTHORITY.
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06/10/2002 10:39:28 CARVE Version 700.0 /u/▇▇▇▇▇▇/deal/MSDW_2002-IQ/0610/iq2.pxtalk.0610.carve
MSDWC MSDW Capital I Trust Series 2002-IQ2 (Red) Class C
===================================================================================================================================
Class C Settlement Date 06/27/2002 Coupon 6.39000 Cusip N/A
Original Balance 24,532,000.00 Dated Date 06/01/2002 Delay 14 Yield Table Date 06/10/2002
Current Balance 24,532,000.00 First Payment Date 07/15/2002 Lead Manager ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Yield Frequency SemiAnnual
Credit Rating A/A Next Payment Date 07/15/2002 Orig Deal Size 785,022,586.42 Yield Day Count 30/360
Market Desc N/A Payment Freq Monthly Num of Tranches 21
Factor 1.00000000 Interest Freq Monthly Deal Age 0
Prepay CPR 0 (!YM) CPR 25 (!YM) CPR 50 (!YM) CPR 75 (!YM) CPR 100
--------------------------------------------------------------------------------------------
Price / Yield |
--------------------------------------------------------------------------------------------
99/24 | 6.4758 6.4758 6.4758 6.4758 6.4758
99/26 | 6.4682 6.4682 6.4682 6.4682 6.4682
99/28 | 6.4606 6.4606 6.4606 6.4606 6.4605
99/30 | 6.4530 6.4530 6.4530 6.4530 6.4529
100/00 | 6.4454 6.4454 6.4454 6.4454 6.4453
100/02 | 6.4378 6.4378 6.4378 6.4378 6.4376
100/04 | 6.4302 6.4302 6.4302 6.4302 6.4300
100/06 | 6.4226 6.4226 6.4226 6.4226 6.4224
100/08 | 6.4151 6.4150 6.4150 6.4150 6.4148
100/10 | 6.4075 6.4075 6.4075 6.4074 6.4072
100/12 | 6.3999 6.3999 6.3999 6.3999 6.3996
100/14 | 6.3924 6.3924 6.3923 6.3923 6.3920
100/16 | 6.3848 6.3848 6.3848 6.3848 6.3844
100/18 | 6.3773 6.3773 6.3773 6.3772 6.3768
100/20 | 6.3698 6.3697 6.3697 6.3697 6.3693
100/22 | 6.3622 6.3622 6.3622 6.3621 6.3617
100/24 | 6.3547 6.3547 6.3547 6.3546 6.3542
100/26 | 6.3472 6.3472 6.3471 6.3471 6.3466
100/28 | 6.3397 6.3396 6.3396 6.3396 6.3391
100/30 | 6.3322 6.3321 6.3321 6.3321 6.3315
101/00 | 6.3247 6.3246 6.3246 6.3246 6.3240
101/02 | 6.3172 6.3171 6.3171 6.3171 6.3165
101/04 | 6.3097 6.3097 6.3096 6.3096 6.3089
101/06 | 6.3022 6.3022 6.3021 6.3021 6.3014
101/08 | 6.2947 6.2947 6.2947 6.2946 6.2939
--------------------------------------------------------------------------------------------
Average Life | 12.13 12.12 12.12 12.11 12.05
First Prin | 02/15/2014 02/15/2014 02/15/2014 02/15/2014 02/15/2014
Last Prin | 03/15/2015 03/15/2015 03/15/2015 03/15/2015 03/15/2015
Payment Window | 14 14 14 14 14
Accrual Factor | 0.4615 0.4615 0.4615 0.4615 0.4615
Mod Duration @ 100/16 | 8.20 8.20 8.20 8.20 8.17
Page 6 of 7
-----------------------------------------------------------------------------------------------------------------------------------
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in
determining whether they have an interest in the type of security described herein. It has been prepared solely for information
purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to
participate in any trading strategy. No representation or warranty can be given with respect to the accuracy or completeness of the
information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of
securities would be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the
issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the
event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such
Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information
in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon
such Prospectus or Private Placement Memorandum. Certain assumptions may have been made in this analysis which have resulted in any
returns detailed herein. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have
a material impact on any returns detailed. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated disclaims any and all liability relating to this
information, including without limitation any express or implied representations or warranties for, statements contained in, and
omissions from, this information. Additional information is available upon request. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated and others
associated with it may have positions in, and may effect transaction in, securities and instruments of issuers mentioned herein and
may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past
performance is not necessarily indicative of future results. Price and availability are subject to change without notice. To our
readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley&Co. Incorporated, approved by
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International Limited, a member of The Securities and Futures Authority, any by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Japan Ltd. We
recommend that such investors obtain the advice of their ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International or ▇▇▇▇▇▇
▇▇▇▇▇▇▇ Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINEDBYTHE U.K.
SECURITIESANDFUTURES AUTHORITY.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇
-----------------------------------------------------------------------------------------------------------------------------------
06/10/2002 10:39:28 CARVE Version 700.0 /u/▇▇▇▇▇▇/deal/MSDW_2002-IQ/0610/iq2.pxtalk.0610.carve
MSDWC MSDW Capital I Trust Series 2002-IQ2 (Red) Class D
===================================================================================================================================
Class D Settlement Date 06/27/2002 Coupon 6.54000 Cusip N/A
Original Balance 7,850,000.00 Dated Date 06/01/2002 Delay 14 Yield Table Date 06/10/2002
Current Balance 7,850,000.00 First Payment Date 07/15/2002 Lead Manager ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Yield Frequency SemiAnnual
Credit Rating A-/AN/ Next Payment Date 07/15/2002 Orig Deal Size 785,022,586.42 Yield Day Count 30/360
Market Desc A Payment Freq Monthly Num of Tranches 21
Factor 1.00000000 Interest Freq Monthly Deal Age 0
Prepay CPR 0 (!YM) CPR 25 (!YM) CPR 50 (!YM) CPR 75 (!YM) CPR 100
---------------------------------------------------------------------------------------------
Price / Yield |
---------------------------------------------------------------------------------------------
99/25+ | 6.6237 6.6237 6.6237 6.6237 6.6237
99/27+ | 6.6164 6.6164 6.6164 6.6164 6.6164
99/29+ | 6.6091 6.6091 6.6091 6.6091 6.6091
99/31+ | 6.6018 6.6018 6.6018 6.6018 6.6018
100/01+ | 6.5945 6.5945 6.5945 6.5945 6.5945
100/03+ | 6.5873 6.5873 6.5872 6.5872 6.5872
100/05+ | 6.5800 6.5800 6.5800 6.5800 6.5800
100/07+ | 6.5727 6.5727 6.5727 6.5727 6.5727
100/09+ | 6.5654 6.5654 6.5654 6.5654 6.5654
100/11+ | 6.5582 6.5582 6.5582 6.5582 6.5582
100/13+ | 6.5509 6.5509 6.5509 6.5509 6.5509
100/15+ | 6.5437 6.5437 6.5437 6.5437 6.5437
100/17+ | 6.5364 6.5364 6.5364 6.5364 6.5364
100/19+ | 6.5292 6.5292 6.5292 6.5292 6.5292
100/21+ | 6.5220 6.5220 6.5220 6.5220 6.5220
100/23+ | 6.5148 6.5148 6.5148 6.5148 6.5147
100/25+ | 6.5075 6.5075 6.5075 6.5075 6.5075
100/27+ | 6.5003 6.5003 6.5003 6.5003 6.5003
100/29+ | 6.4931 6.4931 6.4931 6.4931 6.4931
100/31+ | 6.4859 6.4859 6.4859 6.4859 6.4859
101/01+ | 6.4787 6.4787 6.4787 6.4787 6.4787
101/03+ | 6.4715 6.4715 6.4715 6.4715 6.4715
101/05+ | 6.4644 6.4644 6.4644 6.4644 6.4644
101/07+ | 6.4572 6.4572 6.4572 6.4572 6.4572
101/09+ | 6.4500 6.4500 6.4500 6.4500 6.4500
---------------------------------------------------------------------------------------------
Average Life | 13.09 13.09 13.09 13.09 13.09
First Prin | 03/15/2015 03/15/2015 03/15/2015 03/15/2015 03/15/2015
Last Prin | 12/15/2015 12/15/2015 12/15/2015 12/15/2015 12/15/2015
Payment Window | 10 10 10 10 10
Accrual Factor | 0.4723 0.4723 0.4723 0.4723 0.4723
Mod Duration @ 100/17+ | 8.55 8.55 8.55 8.55 8.55
Page 7 of 7
-----------------------------------------------------------------------------------------------------------------------------------
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in
determining whether they have an interest in the type of security described herein. It has been prepared solely for information
purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to
participate in any trading strategy. No representation or warranty can be given with respect to the accuracy or completeness of the
information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of
securities would be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the
issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the
event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such
Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information
in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon
such Prospectus or Private Placement Memorandum. Certain assumptions may have been made in this analysis which have resulted in any
returns detailed herein. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have
a material impact on any returns detailed. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated disclaims any and all liability relating to this
information, including without limitation any express or implied representations or warranties for, statements contained in, and
omissions from, this information. Additional information is available upon request. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated and others
associated with it may have positions in, and may effect transaction in, securities and instruments of issuers mentioned herein and
may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past
performance is not necessarily indicative of future results. Price and availability are subject to change without notice. To our
readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley&Co. Incorporated, approved by
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International Limited, a member of The Securities and Futures Authority, any by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Japan Ltd. We
recommend that such investors obtain the advice of their ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International or ▇▇▇▇▇▇
▇▇▇▇▇▇▇ Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINEDBYTHE U.K.
SECURITIESANDFUTURES AUTHORITY.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇
-----------------------------------------------------------------------------------------------------------------------------------
06/10/2002 10:25:28 CARVE Version 700.0 /u/▇▇▇▇▇▇/deal/MSDW_2002-IQ/0610/iq2.pxtalk.0610.carve
MSDWC MSDW Capital I Trust Series 2002-IQ2 (Red) Class E
===================================================================================================================================
Class E Settlement Date 06/27/2002 Coupon 5.00000 Cusip N/A
Original Balance 7,850,000.00 Dated Date 06/01/2002 Delay 14 Yield Table Date 06/10/2002
Current Balance 7,850,000.00 First Payment Date 07/15/2002 Lead Manager ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Yield Frequency SemiAnnual
Credit Rating BBB+/BBB+ Next Payment Date 07/15/2002 Orig Deal Size 785,022,586.42 Yield Day Count 30/360
Market Desc N/A Payment Freq Monthly Num of Tranches 21
Factor 1.00000000 Interest Freq Monthly Deal Age 0
Prepay CPR 0 (!YM) CPR 25 (!YM) CPR 50 (!YM) CPR 75 (!YM) CPR 100
---------------------------------------------------------------------------------------------
Price / Yield |
---------------------------------------------------------------------------------------------
99/24+ | 7.0676 7.0677 7.0677 7.0676 7.0663
99/26+ | 7.0603 7.0604 7.0604 7.0603 7.0590
99/28+ | 7.0530 7.0531 7.0531 7.0530 7.0517
99/30+ | 7.0457 7.0458 7.0458 7.0457 7.0444
100/00+ | 7.0384 7.0385 7.0385 7.0384 7.0371
100/02+ | 7.0311 7.0312 7.0312 7.0312 7.0298
100/04+ | 7.0239 7.0240 7.0240 7.0239 7.0226
100/06+ | 7.0166 7.0167 7.0167 7.0166 7.0153
100/08+ | 7.0093 7.0094 7.0094 7.0094 7.0080
100/10+ | 7.0021 7.0022 7.0022 7.0021 7.0008
100/12+ | 6.9948 6.9949 6.9949 6.9949 6.9935
100/14+ | 6.9876 6.9877 6.9877 6.9876 6.9863
100/16+ | 6.9804 6.9805 6.9805 6.9804 6.9791
100/18+ | 6.9731 6.9732 6.9732 6.9732 6.9718
100/20+ | 6.9659 6.9660 6.9660 6.9659 6.9646
100/22+ | 6.9587 6.9588 6.9588 6.9587 6.9574
100/24+ | 6.9515 6.9516 6.9516 6.9515 6.9502
100/26+ | 6.9443 6.9444 6.9444 6.9443 6.9430
100/28+ | 6.9371 6.9372 6.9372 6.9371 6.9358
100/30+ | 6.9299 6.9300 6.9300 6.9299 6.9286
101/00+ | 6.9227 6.9228 6.9228 6.9227 6.9214
101/02+ | 6.9155 6.9156 6.9156 6.9155 6.9142
101/04+ | 6.9083 6.9084 6.9084 6.9084 6.9070
101/06+ | 6.9012 6.9013 6.9013 6.9012 6.8999
101/08+ | 6.8940 6.8941 6.8941 6.8940 6.8927
----------------------------------------------------------------------------------------------
Average Life | 13.77 13.77 13.77 13.77 13.77
First Prin | 12/15/2015 12/15/2015 12/15/2015 12/15/2015 12/15/2015
Last Prin | 08/15/2016 08/15/2016 08/15/2016 08/15/2016 08/15/2016
Payment Window | 9 9 9 9 9
Accrual Factor | 0.5077 0.5077 0.5077 0.5077 0.5077
Mod Duration @ 100/16+ | 8.55 8.55 8.55 8.55 8.55
Page 1 of 3
-----------------------------------------------------------------------------------------------------------------------------------
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in
determining whether they have an interest in the type of security described herein. It has been prepared solely for information
purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to
participate in any trading strategy. No representation or warranty can be given with respect to the accuracy or completeness of the
information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of
securities would be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the
issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the
event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such
Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information
in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon
such Prospectus or Private Placement Memorandum. Certain assumptions may have been made in this analysis which have resulted in any
returns detailed herein. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have
a material impact on any returns detailed. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated disclaims any and all liability relating to this
information, including without limitation any express or implied representations or warranties for, statements contained in, and
omissions from, this information. Additional information is available upon request. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated and others
associated with it may have positions in, and may effect transaction in, securities and instruments of issuers mentioned herein and
may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past
performance is not necessarily indicative of future results. Price and availability are subject to change without notice. To our
readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley&Co. Incorporated, approved by
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International Limited, a member of The Securities and Futures Authority, any by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Japan Ltd. We
recommend that such investors obtain the advice of their ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International or ▇▇▇▇▇▇
▇▇▇▇▇▇▇ Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINEDBYTHE U.K.
SECURITIESANDFUTURES AUTHORITY.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇
-----------------------------------------------------------------------------------------------------------------------------------
06/10/2002 10:25:28 CARVE Version 700.0 /u/▇▇▇▇▇▇/deal/MSDW_2002-IQ/0610/iq2.pxtalk.0610.carve
MSDWC MSDW Capital I Trust Series 2002-IQ2 (Red) Class F
===================================================================================================================================
Class F Settlement Date 06/27/2002 Coupon 5.00000 Cusip N/A
Original Balance 7,851,000.00 Dated Date 06/01/2002 Delay 14 Yield Table Date 06/10/2002
Current Balance 7,851,000.00 First Payment Date 07/15/2002 Lead Manager ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Yield Frequency SemiAnnual
Credit Rating BBB/BBB Next Payment Date 07/15/2002 Orig Deal Size 785,022,586.42 Yield Day Count 30/360
Market Desc N/A Payment Freq Monthly Num of Tranches 21
Factor 1.00000000 Interest Freq Monthly Deal Age 0
Prepay CPR 0 (!YM) CPR 25 (!YM) CPR 50 (!YM) CPR 75 (!YM) CPR 100
---------------------------------------------------------------------------------------------
Price / Yield |
---------------------------------------------------------------------------------------------
99/23+ | 7.2088 7.2089 7.2090 7.2090 7.2084
99/25+ | 7.2016 7.2018 7.2018 7.2019 7.2012
99/27+ | 7.1945 7.1946 7.1947 7.1947 7.1940
99/29+ | 7.1873 7.1874 7.1875 7.1875 7.1868
99/31+ | 7.1802 7.1803 7.1803 7.1804 7.1797
100/01+ | 7.1730 7.1731 7.1732 7.1732 7.1725
100/03+ | 7.1659 7.1660 7.1660 7.1661 7.1653
100/05+ | 7.1587 7.1589 7.1589 7.1589 7.1581
100/07+ | 7.1516 7.1517 7.1518 7.1518 7.1510
100/09+ | 7.1445 7.1446 7.1447 7.1446 7.1438
100/11+ | 7.1374 7.1375 7.1375 7.1375 7.1367
100/13+ | 7.1302 7.1304 7.1304 7.1304 7.1296
100/15+ | 7.1231 7.1233 7.1233 7.1233 7.1224
100/17+ | 7.1160 7.1162 7.1162 7.1162 7.1153
100/19+ | 7.1090 7.1091 7.1091 7.1091 7.1082
100/21+ | 7.1019 7.1020 7.1020 7.1020 7.1011
100/23+ | 7.0948 7.0949 7.0949 7.0949 7.0940
100/25+ | 7.0877 7.0878 7.0879 7.0878 7.0869
100/27+ | 7.0806 7.0807 7.0808 7.0808 7.0798
100/29+ | 7.0736 7.0737 7.0737 7.0737 7.0727
100/31+ | 7.0665 7.0666 7.0667 7.0666 7.0656
101/01+ | 7.0595 7.0596 7.0596 7.0596 7.0585
101/03+ | 7.0524 7.0525 7.0526 7.0525 7.0515
101/05+ | 7.0454 7.0455 7.0455 7.0455 7.0444
101/07+ | 7.0384 7.0385 7.0385 7.0384 7.0373
---------------------------------------------------------------------------------------------
Average Life | 14.42 14.42 14.41 14.40 14.33
First Prin | 08/15/2016 08/15/2016 08/15/2016 08/15/2016 08/15/2016
Last Prin | 02/15/2017 02/15/2017 02/15/2017 02/15/2017 12/15/2016
Payment Window | 7 7 7 7 5
Accrual Factor | 0.5178 0.5178 0.5178 0.5178 0.5178
Mod Duration @ 100/15+ | 8.71 8.71 8.71 8.71 8.68
Page 2 of 3
-----------------------------------------------------------------------------------------------------------------------------------
This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in
determining whether they have an interest in the type of security described herein. It has been prepared solely for information
purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to
participate in any trading strategy. No representation or warranty can be given with respect to the accuracy or completeness of the
information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of
securities would be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the
issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the
event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such
Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information
in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon
such Prospectus or Private Placement Memorandum. Certain assumptions may have been made in this analysis which have resulted in any
returns detailed herein. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have
a material impact on any returns detailed. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated disclaims any and all liability relating to this
information, including without limitation any express or implied representations or warranties for, statements contained in, and
omissions from, this information. Additional information is available upon request. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated and others
associated with it may have positions in, and may effect transaction in, securities and instruments of issuers mentioned herein and
may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past
performance is not necessarily indicative of future results. Price and availability are subject to change without notice. To our
readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley&Co. Incorporated, approved by
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International Limited, a member of The Securities and Futures Authority, any by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Japan Ltd. We
recommend that such investors obtain the advice of their ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International or ▇▇▇▇▇▇
▇▇▇▇▇▇▇ Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINEDBYTHE U.K.
SECURITIESANDFUTURES AUTHORITY.
▇▇▇▇▇▇ ▇▇▇▇▇▇▇
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06/10/2002 10:25:28 CARVE Version 700.0 /u/▇▇▇▇▇▇/deal/MSDW_2002-IQ/0610/iq2.pxtalk.0610.carve
MSDWC MSDW Capital I Trust Series 2002-IQ2 (Red) Class G
===================================================================================================================================
Class G Settlement Date 06/27/2002 Coupon 5.00000 Cusip N/A
Original Balance 5,888,000.00 Dated Date 06/01/2002 Delay 14 Yield Table Date 06/10/2002
Current Balance 5,888,000.00 First Payment Date 07/15/2002 Lead Manager ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Yield Frequency SemiAnnual
Credit Rating BBB-/BBBN/ Next Payment Date 07/15/2002 Orig Deal Size 785,022,586.42 Yield Day Count 30/360
Market Desc A Payment Freq Monthly Num of Tranches 21
Factor 1.00000000 Interest Freq Monthly Deal Age 0
Prepay CPR 0 (!YM) CPR 25 (!YM) CPR 50 (!YM) CPR 75 (!YM) CPR 100
--------------------------------------------------------------------------------------------
Price / Yield |
--------------------------------------------------------------------------------------------
97/17 | 7.5847 7.5847 7.5848 7.5847 7.5839
97/19 | 7.5773 7.5774 7.5774 7.5773 7.5765
97/21 | 7.5700 7.5700 7.5701 7.5700 7.5691
97/23 | 7.5626 7.5627 7.5627 7.5626 7.5618
97/25 | 7.5553 7.5554 7.5554 7.5553 7.5545
97/27 | 7.5479 7.5480 7.5480 7.5480 7.5471
97/29 | 7.5406 7.5407 7.5407 7.5407 7.5398
97/31 | 7.5333 7.5334 7.5334 7.5333 7.5325
98/01 | 7.5260 7.5261 7.5261 7.5260 7.5252
98/03 | 7.5187 7.5188 7.5188 7.5187 7.5178
98/05 | 7.5114 7.5115 7.5115 7.5114 7.5105
98/07 | 7.5041 7.5042 7.5042 7.5041 7.5032
98/09 | 7.4968 7.4969 7.4969 7.4969 7.4960
98/11 | 7.4895 7.4896 7.4896 7.4896 7.4887
98/13 | 7.4823 7.4824 7.4824 7.4823 7.4814
98/15 | 7.4750 7.4751 7.4751 7.4750 7.4741
98/17 | 7.4677 7.4678 7.4678 7.4678 7.4669
98/19 | 7.4605 7.4606 7.4606 7.4605 7.4596
98/21 | 7.4532 7.4533 7.4533 7.4533 7.4523
98/23 | 7.4460 7.4461 7.4461 7.4460 7.4451
98/25 | 7.4388 7.4389 7.4389 7.4388 7.4379
98/27 | 7.4315 7.4316 7.4316 7.4316 7.4306
98/29 | 7.4243 7.4244 7.4244 7.4244 7.4234
98/31 | 7.4171 7.4172 7.4172 7.4171 7.4162
99/01 | 7.4099 7.4100 7.4100 7.4099 7.4090
--------------------------------------------------------------------------------------------
Average Life | 14.77 14.77 14.77 14.77 14.75
First Prin | 02/15/2017 02/15/2017 02/15/2017 02/15/2017 12/15/2016
Last Prin | 07/15/2017 07/15/2017 07/15/2017 07/15/2017 07/15/2017
Payment Window | 6 6 6 6 8
Accrual Factor | 0.5264 0.5264 0.5264 0.5264 0.5264
Mod Duration @ 98/09 | 8.69 8.69 8.69 8.69 8.68
Page 3 of 3
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This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in
determining whether they have an interest in the type of security described herein. It has been prepared solely for information
purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to
participate in any trading strategy. No representation or warranty can be given with respect to the accuracy or completeness of the
information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of
securities would be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the
issuer which could contain material information not contained herein and to which the prospective purchasers are referred. In the
event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such
Prospectus or Private Placement Memorandum. Such Prospectus or Private Placement Memorandum will contain all material information
in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon
such Prospectus or Private Placement Memorandum. Certain assumptions may have been made in this analysis which have resulted in any
returns detailed herein. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have
a material impact on any returns detailed. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated disclaims any and all liability relating to this
information, including without limitation any express or implied representations or warranties for, statements contained in, and
omissions from, this information. Additional information is available upon request. ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated and others
associated with it may have positions in, and may effect transaction in, securities and instruments of issuers mentioned herein and
may also perform or seek to perform investment banking services for the issuers of such securities and instruments. Past
performance is not necessarily indicative of future results. Price and availability are subject to change without notice. To our
readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley&Co. Incorporated, approved by
▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International Limited, a member of The Securities and Futures Authority, any by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Japan Ltd. We
recommend that such investors obtain the advice of their ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International or ▇▇▇▇▇▇
▇▇▇▇▇▇▇ Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINEDBYTHE U.K.
SECURITIESANDFUTURES AUTHORITY.
