SECURITIES AND FUTURES AUTHORITY. Notwithstanding anything to the contrary contained in a definitive Private Placement Memorandum or any transaction document, all persons may disclose to any and all persons, without limitation of any kind, the federal income tax treatment and tax structure of the securities described herein, any fact relevant to understanding the federal tax treatment or tax structure of the securities described herein, and all materials of any kind (including opinions or other tax analyses) relating to such federal tax treatment or tax structure. -------------------------------------------------------------------------------- Page 13 CPR Sensitivity To Call ------------------------------------------------------------------------------- CPR (%) 20 25 30 ------------------------------------------------------------------------------- A WAL (years) 3.36 2.66 2.16 First Payment Date 2/25/2004 2/25/2004 2/25/2004 Expected Final Maturity 5/25/2013 6/25/2011 3/25/2010 Window 1 - 112 1 - 89 1 - 74 ------------------------------------------------------------------------------- M-1 WAL (years) 6.12 4.99 4.38 First Payment Date 2/25/2007 4/25/2007 5/25/2007 Expected Final Maturity 5/25/2013 6/25/2011 3/25/2010 Window 37 - 112 39 - 89 40 - 74 ------------------------------------------------------------------------------- M-2 WAL (years) 6.12 4.97 4.31 First Payment Date 2/25/2007 3/25/2007 4/25/2007 Expected Final Maturity 5/25/2013 6/25/2011 3/25/2010 Window 37 - 112 38 - 89 39 - 74 ------------------------------------------------------------------------------- B WAL (years) 6.10 4.94 4.25 First Payment Date 2/25/2007 2/25/2007 2/25/2007 Expected Final Maturity 5/25/2013 6/25/2011 3/25/2010 Window 37 - 112 37 - 89 37 - 74 -------------------------------------------------------------------------------
SECURITIES AND FUTURES AUTHORITY. SCHEDULE OF AVAILABLE FUNDS AND SUPPLEMENTAL INTEREST RATE CAP RATES (CASH CAP) (1)(2) PERIOD A-2 CAP (%) A-3 CAP (%) M-1 CAP (%) M-2 CAP (%) M-3 CAP (%) B-1 CAP (%) B-2 CAP (%) B-3 CAP (%) ---------- ------------- -------------- -------------- -------------- -------------- -------------- -------------- -------------- ACTUAL/360 ACTUAL/360 ACTUAL/360 ACTUAL/360 ACTUAL/360 ACTUAL/360 ACTUAL/360 ACTUAL/360 74 13.42 13.49 11.94 11.94 11.94 11.94 11.94 11.94 75 12.99 13.06 11.55 11.55 11.55 11.55 11.55 11.55 76 12.99 13.06 11.55 11.55 11.55 11.55 11.55 11.55 77 13.42 13.49 11.93 11.93 11.93 11.93 11.93 11.93 78 12.99 13.06 11.55 11.55 11.55 11.55 11.55 11.55 79 13.42 13.49 11.93 11.93 11.93 11.93 11.93 11.93 80 12.99 13.06 11.55 11.55 11.55 11.55 11.55 11.55 81 12.99 13.06 11.54 11.54 11.54 11.54 11.54 11.54 82 14.38 14.45 12.78 12.78 12.78 12.78 12.78 12.78 83 11.63 11.69 11.54 11.54 11.54 11.54 11.54 11.54 84 11.82 11.89 11.92 11.92 11.92 11.92 11.92 11.92 85 11.45 11.52 11.54 11.54 11.54 11.54 11.54 11.54 86 11.85 11.92 11.92 11.92 11.92 11.92 11.92 11.92 87 11.49 11.55 11.54 11.54 11.54 11.54 11.54 11.54 88 11.50 11.57 11.54 11.54 11.54 11.54 11.54 11.54 89 11.90 11.97 11.92 11.92 11.92 11.92 11.92 11.92 90 11.54 11.61 11.53 11.53 11.53 11.53 11.53 11.53 91 11.94 12.01 11.92 11.92 11.92 11.92 11.92 11.92 92 11.58 11.64 11.53 11.53 11.53 11.53 11.53 11.53 93 11.59 11.66 11.53 11.53 11.53 11.53 11.53 11.53 94 12.86 12.93 12.76 12.76 12.76 12.76 12.76 12.76 95 11.64 11.70 11.53 11.53 11.53 11.53 11.53 11.53 96 12.04 12.11 11.91 11.91 11.91 11.91 11.91 11.91 97 11.68 11.75 11.52 11.52 11.52 11.52 11.52 11.52 98 12.09 12.16 11.91 11.91 11.91 11.91 11.91 11.91 99 11.72 11.79 11.52 11.52 11.52 11.52 11.52 11.52 100 11.75 11.81 11.52 11.52 11.52 11.52 11.52 11.52 101 12.16 12.23 11.90 11.90 11.90 11.90 11.90 11.90 102 11.79 11.86 11.52 11.52 11.52 11.52 11.52 11.52 103 12.21 12.28 11.90 11.90 11.90 11.90 11.90 11.90 104 11.85 11.91 11.52 11.52 11.52 11.52 11.52 11.52 105 11.87 11.94 11.51 11.51 11.51 11.51 11.51 11.51 106 12.72 12.79 12.31 12.31 12.31 12.31 12.31 - 107 11.93 12.00 11.51 11.51 11.51 11.51 11.51 - 108 12.35 12.42 11.90 11.90 11.90 11.90 11.90 - 109 11.99 12.05 11.51 11.51 11.51 11.51 11.51 - 110 12.42 12.49 11.89 11.89 11.89 11.89 11.89 -
SECURITIES AND FUTURES AUTHORITY. Notwithstanding anything to the contrary contained in a definitive Private Placement Memorandum or any transaction document, all persons may disclose to any and all persons, without limitation of any kind, the federal income tax treatment and tax structure of the securities described herein, any fact relevant to understanding the federal tax treatment or tax structure of the securities described herein, and all materials of any kind (including opinions or other tax analyses) relating to such federal tax treatment or tax structure. Schedule of Available Funds and Supplemental Interest Rate Cap Rates (Cash Cap) (1)(2) Period A-2 Cap (%) M-1 Cap (%) M-2 Cap (%) M-3 Cap (%) B-1 Cap (%) B-2 Cap (%) B-3 Cap (%) Actual/360 Actual/360 Actual/360 Actual/360 Actual/360 Actual/360 Actual/360 ------------------------------------------------------------------------------------------------------------------------------------ 0 - - - - - - - 1 9.52 7.89 7.89 7.89 7.89 7.89 7.89 2 8.73 7.12 7.12 7.12 7.12 7.12 7.12 3 8.74 7.12 7.12 7.12 7.12 7.12 7.12 4 8.99 7.36 7.36 7.36 7.36 7.36 7.36 5 8.75 7.12 7.12 7.12 7.12 7.12 7.12 6 9.00 7.36 7.36 7.36 7.36 7.36 7.36 7 8.76 7.12 7.12 7.12 7.12 7.12 7.12 8 8.76 7.12 7.12 7.12 7.12 7.12 7.12 9 9.28 7.61 7.61 7.61 7.61 7.61 7.61 10 8.77 7.12 7.12 7.12 7.12 7.12 7.12 11 9.03 7.35 7.35 7.35 7.35 7.35 7.35 12 8.79 7.12 7.12 7.12 7.12 7.12 7.12 13 9.05 7.35 7.35 7.35 7.35 7.35 7.35 14 8.81 7.12 7.12 7.12 7.12 7.12 7.12 15 8.82 7.12 7.12 7.12 7.12 7.12 7.12 16 9.07 7.35 7.35 7.35 7.35 7.35 7.35 17 8.84 7.12 7.12 7.12 7.12 7.12 7.12 18 9.10 7.35 7.35 7.35 7.35 7.35 7.35 19 8.86 7.12 7.12 7.12 7.12 7.12 7.12 20 8.92 7.15 7.15 7.15 7.15 7.15 7.15 21 10.76 9.03 9.03 9.03 9.03 9.03 9.03 22 9.90 8.19 8.19 8.19 8.19 8.19 8.19 23 10.20 8.47 8.47 8.47 8.47 8.47 8.47 24 9.93 8.19 8.19 8.19 8.19 8.19 8.19 25 9.86 8.47 8.47 8.47 8.47 8.47 8.47 26 9.61 8.21 8.21 8.21 8.21 8.21 8.21 27 9.95 8.55 8.55 8.55 8.55 8.55 8.55 28 10.30 8.87 8.87 8.87 8.87 8.87 8.87 29 10.02 8.59 8.59 8.59 8.59 8.59 8.59 30 10.34 8.87 8.87 8.87 8.87 8.87 8.87 31 10.07 8.59 8.59 8.59 8.59 8.59 8.59 32 10.12 8.60 8.60 8.60 8.60 8.60 8.60 33 11.65 10.10 10.10 10.10 10.10 10.10 10.10 34 10.97 9.44 9.44 9.44 9.44 9.44 9.44 35 11.34 9.76 9.76 9.76 9.76 9.76 9.76 36 11.04 9.44 9.44 9.44 9.44 9.44 9.44 1 Annualized coupon based on total interest paid to the certificates including Accrued Certificate Interest, unpaid interest amounts and Basis Risk Carry Forward Amount divided by the...
SECURITIES AND FUTURES AUTHORITY. CLASS B-2 PRINCIPAL For any Distribution Date, an amount equal to the DISTRIBUTION AMOUNT: excess of (x) the sum of (i) the aggregate Certificate Principal Balance of the Class A Certificates (after taking into account the payment of the Class A Principal Distribution Amount on such Distribution Date), (ii) the Certificate Principal Balance of the Class M-1 Certificates (after taking into account the payment of the Class M-1 Principal Distribution Amount on such Distribution Date), (iii) the Certificate Principal Balance of the Class M-2 Certificates (after taking into account the payment of the Class M-2 Principal Distribution Amount on such Distribution Date), (iv) the Certificate Principal Balance of the Class M-3 Certificates (after taking into account the payment of the Class M-3 Principal Distribution Amount on such Distribution Date), (v) the Certificate Principal Balance of the Class B-1 Certificates (after taking into account the payment of the Class B-1 Principal Distribution Amount on such Distribution Date) and (vi) the Certificate Principal Balance of the Class B-2 Certificates immediately prior to such Distribution Date over (y) the lesser of (A) the product of (i) approximately 94.00% and (ii) the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period and (B) the excess, if any, of the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period over $5,025,049. CLASS B-3 PRINCIPAL For any Distribution Date, an amount equal to the DISTRIBUTION AMOUNT: excess of (x) the sum of (i) the aggregate Certificate Principal Balance of the Class A Certificates (after taking into account the payment of the Class A Principal Distribution Amount on such Distribution Date), (ii) the Certificate Principal Balance of the Class M-1 Certificates (after taking into account the payment of the Class M-1 Principal Distribution Amount on such Distribution Date), (iii) the Certificate Principal Balance of the Class M-2 Certificates (after taking into account the payment of the Class M-2 Principal Distribution Amount on such Distribution Date), (iv) the Certificate Principal Balance of the Class M-3 Certificates (after taking into account the payment of the Class M-3 Principal Distribution Amount on such Distribution Date), (v) the Certificate Principal Balance of the Class B-1 Certificates (after taking into account the payment of the Class B-1 Principal Distribution Amount on such Distributi...
SECURITIES AND FUTURES AUTHORITY. XXXXXX XXXXXXX ------------------------------------------------------------------------------------------------------------------------------------ MS MS SERIES 2001-TOP 5 (XXXXX'X/S AND P) CLASS B ------------------------------------------------------------------------------------------------------------------------------------ Class B Settlement Date 12/27/2001 Coupon 6.60000 Original Balance 31,259,000.00 Dated Date 12/01/2001 Delay 14 Current Balance 31,259,000.00 First Payment Date 01/15/2002 Lead Manager Xxxxxx Xxxxxxx & Co. Credit Rating Aa2/AA Next Payment Date 01/15/2002 Orig Deal Size 1,041,991,908.17 Market Desc N/A Payment Freq Monthly Num of Tranches 22 Factor 1.00000000 Interest Freq Monthly Deal Age 0 Cusip N/A Yield Table Date 12/11/2001 Yield Frequency XxxxXxxxxx Xxxxx Day Count 30/360 PREPAY CPR 0 (!YM) CPR 25 (!YM) CPR 50 (!YM) CPR 75 (!YM) CPR 100 ------------------------- ------------------------------------------------------------------------------------------ PRICE/YIELD ------------------------- ------------------------------------------------------------------------------------------ 99/28 6.67 6.67 6.67 6.67 6.67 99/30 6.66 6.66 6.66 6.66 6.66 100/00 6.66 6.65 6.65 6.66 6.65 100/02 6.65 6.65 6.65 6.65 6.65 100/04 6.64 6.64 6.64 6.64 6.64 100/06 6.63 6.63 6.63 6.63 6.63 100/08 6.62 6.62 6.62 6.62 6.62 100/10 6.61 6.61 6.61 6.61 6.61 100/12 6.60 6.60 6.60 6.60 6.60 100/14 6.59 6.59 6.59 6.59 6.59 100/16 6.58 6.58 6.58 6.58 6.58 100/18 6.58 6.58 6.58 6.58 6.58 100/20 6.57 6.57 6.57 6.57 6.57 100/22 6.56 6.56 6.56 6.56 6.56 100/24 6.55 6.55 6.55 6.55 6.55 100/26 6.54 6.54 6.54 6.54 6.54 100/28 6.53 6.53 6.53 6.53 6.53 100/30 6.52 6.52 6.52 6.52 6.52 101/00 6.51 6.51 6.51 6.51 6.51 101/02 6.51 6.51 6.51 6.50 6.50 101/04 6.50 6.50 6.50 6.50 6.49 ------------------------- ------------------------------------------------------------------------------------------ AVERAGE LIFE 9.88 9.87 9.80 9.80 9.63 FIRST PRIN 11/15/2011 10/15/2011 10/15/2011 10/15/2011 08/15/2011 LAST PRIN 11/15/2011 11/15/2011 11/15/2011 10/15/2011 08/15/2011 PAYMENT WINDOW 1 2 2 1 1 ACCRUAL FACTOR 0.4767 0.4767 0.4767 0.4767 0.4767 MOD DURATION @ 100/16 7.05 7.04 7.03 7.01 6.92 Page 5 of 6 --------------------------------------------------------------------------------
SECURITIES AND FUTURES AUTHORITY. Notwithstanding anything to the contrary contained in a definitive Private Placement Memorandum or any transaction document, all persons may disclose to any and all persons, without limitation of any kind, the federal income tax treatment and tax structure of the securities described herein, any fact relevant to understanding the federal tax treatment or tax structure of the securities described herein, and all materials of any kind (including opinions or other tax analyses) relating to such federal tax treatment or tax structure. -------------------------------------------------------------------------------- Page 13 TO MATURITY ----------- PERCENTAGE OF CLASS M-1 CERTIFICATE PRINCIPAL BALANCE OUTSTANDING DATES PPC 0% PPC 75% PPC 100% PPC 125% PPC 150% ------------------ ----------------- ----------------- ----------------- ----------------- ----------------- Initial 100 100 100 100 100 May 2004 100 100 100 100 100 May 2005 100 100 100 100 100 May 2006 100 100 100 100 100 May 2007 100 87 64 46 81 May 2008 100 70 48 32 20 May 2009 100 56 36 22 13 May 2010 100 45 27 15 8 May 2011 100 36 20 10 5 May 2012 100 29 15 7 1 May 2013 100 23 11 5 0 May 2014 100 19 8 2 0 May 2015 100 15 6 0 0 May 2016 100 12 4 0 0 May 2017 100 9 2 0 0 May 2018 100 7 0 0 0 May 2019 100 6 0 0 0 May 2020 100 4 0 0 0 May 2021 100 2 0 0 0 May 2022 100 0 0 0 0 May 2023 100 0 0 0 0 May 2024 100 0 0 0 0 May 2025 96 0 0 0 0 May 2026 87 0 0 0 0 May 2027 77 0 0 0 0 May 2028 66 0 0 0 0 May 2029 54 0 0 0 0 May 2030 41 0 0 0 0 May 2031 28 0 0 0 0 May 2032 13 0 0 0 0 May 2033 0 0 0 0 0 Average Life to 26.14 7.75 5.88 5.01 4.82 Maturity (years) Average Life to 26.02 7.03 5.33 4.56 4.46 Call (1) (years)
SECURITIES AND FUTURES AUTHORITY. 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. This material is based on information that Morgan Stanley & Co. Incorporated ("Morgan Stanley") considers reliaxxx. Xoxxxx Xxanley makes no represexxxxxxn xx xxxranty with respect to txx xxxuxxxx xx 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. The information contained here in may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change. We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes. No representation is made that any returns indicated will be achieved. Changes to the assumptions may have a material impact on any returns detailed. Morgan Stanley disclaims any and all liability relating to this infoxxxxxxn, xxxxxding without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained here in. Additional information is available upon request. Morgan Stanley and others associated with it may have positions in, xxx xxy xxxxxx transaction in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking service...
SECURITIES AND FUTURES AUTHORITY. Page 12 TO MATURITY ----------- PERCENTAGE OF CLASS M-1 CERTIFICATE PRINCIPAL BALANCE OUTSTANDING
SECURITIES AND FUTURES AUTHORITY. Notwithstanding anything to the contrary contained in a definitive Private Placement Memorandum or any transaction document, all persons may disclose to any and all persons, without limitation of any kind, the federal income tax treatment and tax structure of the securities described herein, any fact relevant to understanding the federal tax treatment or tax structure of the securities described herein, and all materials of any kind (including opinions or other tax analyses) relating to such federal tax treatment or tax structure.
SECURITIES AND FUTURES AUTHORITY. CONTIMORTGAGE HOME EQUITY LOAN TRUST 1998-3 -------------------------------------------------------------------------------- Group I Computational Materials Decrement Tables Class A-1 To Maturity Average Life 5.55 0.84 0.59 0.46 0.39 0.36 0.32 0.30 First Prin 10/15/98 10/15/98 10/15/98 10/15/98 10/15/98 10/15/98 10/15/98 10/15/98 Last Prin 10/15/09 3/15/00 9/15/99 6/15/99 5/15/99 4/15/99 4/15/99 3/15/99
