MORGAN STANLEY Securitized Products Group | February 11, 2004 |
Computational Materials
$ [ 690,549,000 ]
(Approximate)
Sequoia Mortgage Trust 2004-2
Mortgage Pass-Through Certificates
Adjustable Rate Residential Mortgage Loans
RWT Holdings, Inc.
Seller
Sequoia Residential Funding, Inc.
Depositor
Wells Fargo Bank, N.A.
Master Servicer
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 reliable. Morgan Stanley makes no representation or warranty 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 In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum.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. 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 an y 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 information, including 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, and may effect transactions 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any sec urities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2004-2
Mortgage Pass-Through Certificates
$690,549,000 (Approximate, Subject to Final Collateral)
Publicly Offered Certificates
Adjustable Rate Residential Mortgage Loans
Class | Principal/Notional Balance(1) | WAL (Yrs) (Call/Mat) (2) | Pymt Window (Mthst) (Call/Mat) (2) | Certificate Interest Rates | Tranche Type | Expected Ratings S&P/Moody’s/Fitch | |
A(3) | $671,999,000 | 3.85 / 4.20 | 1-118 / 1-359 | Floater | Senior | AAA/Aaa/AAA | |
X-1(5)(6) | $671,999,000 | N/A | 1-42 / 1-42 | N/A | Senior/ NAS IO | AAA/Aaa/AAA | |
X-2(5) | $671,999,000 | Information Not Provided Herein | N/A | Senior/ IO | AAA/Aaa/AAA | ||
X-B(5) | $18,550,000 | N/A | Senior/ IO | AAA/Aaa/AAA | |||
A-R | $100 | Senior | AAA/Aaa/AAA | ||||
B-1(4) | $11,550,000 | 6.57 / 7.30 | 39-118 / 39-359 | Floater | Subordinate | AA/Aa2/AA | |
B-2(4) | $7,000,000 | 6.57 / 7.30 | 39-118 / 39-359 | Floater | Subordinate | A/A2/A | |
B-3 | $3,150,000 | Information Not Provided Herein | N/A | Subordinate | BBB/Baa2/BBB | ||
B-4 | $1,750,000 | N/A | Subordinate | BB/Ba2/BB | |||
B-5 | $1,400,000 | N/A | Subordinate | B/B2/B | |||
B-6 | $3,150,249 | N/A | Subordinate | NR/NR/NR | |||
Total | $699,999,349 |
(1)
Distributions on the Senior Certificates (as described herein) and the Subordinate Certificates (as described herein) will be derived from one-month and six-month LIBOR adjustable rate Mortgage Loans (as described herein). Class sizes are subject to final collateral and rating agency approval and are subject to a +/-10% variance.
(2)
The WAL and Payment Windows for the Class A, Class B-1 and Class B-2 Certificates are shown to the Clean-Up Call Date and to maturity (as described herein).
(3)
The Class A Certificates will have a coupon equal to the lesser of (i) Six-Month LIBOR plus a related margin (which margin doubles after the Clean-Up Call Date), (ii) the Net WAC Cap and (iii) 11.50%. Six-Month LIBOR will reset every 6 months beginning with the first Distribution Date in March 2004.
(4)
The Class B-1 and Class B-2 Certificates will have a coupon equal to the lesser of (i) One-Month LIBOR plus a margin (which margin is multiplied by [1.5] after the Clean-Up Call Date), (ii) the Net WAC Cap and (iii) 11.50%.
(5)
Balances shown with respect to the Class X-1, Class X-2, and Class X-B Certificates are notional balances. Such classes are interest-only certificates and will not be entitled to distributions of principal.
(6)
The notional amount of the Class X-1 Certificates for any Distribution Date is the lesser of (x) the notional amount set out immediately prior to such date on the related notional amount schedule and (y) the class principal amounts of the Class A Certificates, for such distribution date. Beginning on the Distribution Date in September 2007, the notional amount of the Class X-1 Certificates will be zero. The interest rate of the Class X-1 Certificates will be the lesser of (x) 0.80% and (y) the excess, if any, of (i) the weighted average of the net interest rates of the Mortgage Loans over (ii) the interest rate for the Class A Certificates. Distributions on the Class X-1 Certificates will be subject to certain limitations in connection with the related Net WAC Shortfalls of the Class A Certificates, and as otherwise described herein. No principal will be distributed on the X-1 Certifica tes.
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 reliable. Morgan Stanley makes no representation or warranty 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. 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 an y 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 information, including 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, and may effect transactions 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any sec urities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Depositor:
Sequoia Residential Funding, Inc.
Co-Lead Managers:
Morgan Stanley and Merrill Lynch, Pierce, Fenner & Smith Incorporated.
Co-Managers:
Banc of America Securities LLC and Countrywide Securities Corp.
Master Servicer/
Securities Administrator/
Custodian:
Wells Fargo Bank, N.A.
Trustee:
HSBC Bank USA.
Rating Agencies:
S&P, Moody’s and Fitch will rate the Offered Certificates. It is expected that the Certificates will be assigned the credit ratings on page 1 of this Preliminary Term Sheet.
Cut-off Date:
February 1, 2004.
Statistical Cut-off Date:
January 1, 2004. The statistical information presented in this Preliminary Term Sheet relates to the pool of mortgage loans as of the Statistical Cut-off Date. We refer to that pool as the preliminary pool. Some of the mortgage loans included in the preliminary pool may not be included in the final pool as a result of prepayments or the failure of these mortgage loans to meet the eligibility requirements established for the trust.
Pricing Date:
On or about February [12], 2004.
Closing Date:
On or about February 25, 2004.
Distribution Date:
The 20th day of each month (or if not a business day, the next succeeding business day), commencing in March 2004.
Certificates:
The “Senior Certificates” will consist of the Class A, Class X-1, Class X-2, Class X-B, and Class A-R Certificates. The “Class X Certificates” will consist of the Class X-1, Class X-2, Class X-B Certificates. The “Subordinate Certificates” will consist of the Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates. The Senior Certificates and the Subordinate Certificates are collectively referred to herein as the “Certificates”. The Class A, Class B-1 and Class B-2 Certificates are collectively referred to herein as the “LIBOR Certificates”. The Class A, Class X-1, Class B-1 and Class B-2 Certificates (collectively, the“Offered Certificates”) are being offered publicly.
Accrued Interest:
The Class A, Class B-1 and Class B-2 Certificates will settle flat. The Class X-1 Certificates will settle with accrued interest.
Accrual Period:
The interest accrual period (the “Accrual Period”) with respect to the Class A, Class B-1 and Class B-2 Certificates for a given Distribution Date will be the period beginning on the 20th day of the month (or, in the case of the first Distribution Date, the Closing Date) and ending on the 19th day of the
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 reliable. Morgan Stanley makes no representation or warranty 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. 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 an y 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 information, including 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, and may effect transactions 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any sec urities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
month (on a 30/360 basis), and with respect to the Class X-1 Certificates for a given Distribution Date will be the calendar month preceding the month in which such Distribution Date occurs (on a 30/360 basis).
Registration:
The Offered Certificates will be made available in book-entry form through DTC, and upon request only, through Clearstream, Luxembourg and Euroclear system.
Federal Tax Treatment:
It is anticipated that the Offered Certificates will represent ownership of REMIC regular interests for tax purposes.
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 reliable. Morgan Stanley makes no representation or warranty 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. 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 an y 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 information, including 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, and may effect transactions 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any sec urities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
ERISA Eligibility:
The Offered Certificates are expected to be ERISA eligible. Prospective investors should review with their legal advisors whether the purchase and holding of any of the Offered Certificates could give rise to a transaction prohibited or not otherwise permissible under ERISA or other similar laws.
SMMEA Treatment:
The Senior Certificates and the Class B-1 Certificates are expected to constitute “mortgage related securities” for purposes of SMMEA.
Final Scheduled
The final scheduled distribution date for the offered certificates is the distribution date in March 2034, which is the distribution date in the month following the scheduled maturity date for the latest maturing mortgage loan.
Distribution Date:
Optional Redemption:
The terms of the transaction allow for the certificates to be redeemed and/or retired once the aggregate principal balance of the Mortgage Loans is equal to 20% or less of the sum of the aggregate principal balance of the Mortgage Loans as of the Cut-off Date (the “Optional Call Date”).
Clean-Up Call:
The terms of the transaction allow for a purchase of the Mortgage Loans resulting in a termination of the trust and retirement of the Certificates once the aggregate principal balance of the Mortgage Loans is equal to 10% or less of aggregate principal balance of the Mortgage Loans as of the Cut-off Date (the “Clean-Up Call Date”).
Pricing Prepayment
Speed:
The Offered Certificates will be priced to a prepayment speed of 20% CPR.
Mortgage Loans:
The trust will consist of adjustable rate, prime quality mortgage loans secured by first liens on one- to four-family residential properties with an aggregate principal balance as of the Statistical Cut-off Date of approximately $699,999,349 (the “Mortgage Loans”). As of the Statistical Cut-off Date, approximately 88.98% and 11.02% of the Mortgage Loans are six-month LIBOR and one-month LIBOR indexed mortgage loans, respectively. Substantially all of the Mortgage Loans have original terms to maturity of approximately 25 or 30 years. As of the Statistical Cut-off Date, approximately 75.85% and 24.15% of the Mortgage Loans are scheduled to pay interest only for the first 5 years and 10 years, respectively. In each case, after such 5-year or 10-year interest-only term, the mortgage loans are scheduled to amortize on a 25-year or 15-year fully amortizing basis, respectively.
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 reliable. Morgan Stanley makes no representation or warranty 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. 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 an y 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 information, including 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, and may effect transactions 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any sec urities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Net WAC Cap:
In the case of the Class A, Class B-1 and Class B-2 Certificates, the weighted average of the net mortgage rates for the Mortgage Loans(“Net WAC Cap”).
The Class A Certificates will have a Certificate Interest Rate equal to the lesser of (i) six-month LIBOR plus the related margin, (ii) the Net WAC Cap and (iii) 11.50%.
The Class B-1 Certificates will have a Certificate Interest Rate equal to the lesser of (i) one-month LIBOR plus the related margin, (ii) the Net WAC Cap and (iii) 11.50%.
The Class B-2 Certificates will have a Certificate Interest Rate equal to the lesser of (i) one-month LIBOR plus the related margin, (ii) the Net WAC Cap and (iii) 11.50%.
If on any Distribution Date, the Certificate Interest Rate of the Class A Certificates is subject to the Net WAC Cap, such Certificates will, to the extent described below, be entitled to payment of an amount equal to the sum of (i) the excess of (a) interest accrued at the respective Certificate Interest Rate (without giving effect to the Net WAC Cap) over (b) the amount of interest received on such Certificates based on the Net WAC Cap, plus (ii) the unpaid portion of any such excess from previous Distribution Dates (and any interest thereon at the then applicable Certificate Interest Rate without giving effect to the Net WAC Cap) (a “Class ANet WAC Shortfall”) from related amounts on deposit in the Reserve Fund.
If on any Distribution Date, the Certificate Interest Rate of the Class B-1 Certificates is subject to the Net WAC Cap, such Certificates will, to the extent described below, be entitled to payment of an amount equal to the sum of (i) the excess of the (a) interest accrued at the respective Certificate Interest Rate (without giving effect to the Net WAC Cap) over (b) the amount of interest received on such Certificates based on the Net WAC Cap, plus (ii) the unpaid portion of any such excess from previous Distribution Dates (and any interest thereon at the then applicable Certificate Interest Rate without giving effect to the Net WAC Cap) (a “Class B-1Net WAC Shortfall”) from related amounts on deposit in the Reserve Fund.
If on any Distribution Date, the Certificate Interest Rate of the Class B-2 Certificates is subject to the Net WAC Cap, such Certificates will, to the extent described below, be entitled to payment of an amount equal to the sum of (i) the excess of the (a) interest accrued at the respective Certificate Interest Rate (without giving effect to the Net WAC Cap) over (b) the amount of interest received on such Certificates based on the Net WAC Cap, plus (ii) the unpaid portion of any such excess from previous Distribution Dates (and any interest thereon at the then applicable Certificate Interest Rate without giving effect to the Net WAC Cap) (a “Class B-2Net WAC Shortfall”) from related amounts on deposit in the Reserve Fund.
Net WAC Shortfall:
Any of the Class A Net WAC Shortfall, the Class B-1 Net WAC Shortfall and the Class B-2 Net WAC Shortfall amounts.
Reserve Fund:
As of the Closing Date, the “Reserve Fund” will be established on behalf of the LIBOR Certificates. The Reserve Fund will be funded by an initial deposit of funds on the Closing Date, and thereafter, by
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 reliable. Morgan Stanley makes no representation or warranty 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. 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 an y 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 information, including 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, and may effect transactions 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any sec urities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
amounts otherwise distributable to any of the Class X Certificates to the extent of any of the related Net WAC Shortfall amounts for a related Distribution Date. The Reserve Fund will not be an asset of the REMIC. On any Distribution Date, LIBOR Certificates will be entitled to receive payments from the Reserve Fund in an amount equal to the related Net WAC Shortfall amount for such Distribution Date, to the extent available. Any amounts remaining in the Reserve Fund after such distribution will be distributed to the related Class X Certificates.
Credit Enhancement:
Senior/subordinate, shifting interest structure.
Credit enhancement for theSenior Certificates will consist of the subordination of the Subordinate Certificates (total subordination initially [4.00]%).
Credit enhancement for theClass B-1 Certificates will consist of the subordination of the Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates (total subordination initially [2.35]%).
Credit enhancement for theClass B-2 Certificates will consist of the subordination of the Class B-3, Class B-4, Class B-5 and Class B-6 Certificates (total subordination initially [1.35]%).
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 reliable. Morgan Stanley makes no representation or warranty 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. 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 an y 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 information, including 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, and may effect transactions 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any sec urities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Shifting Interest:
Until the first Distribution Date occurring after February 2014, the Subordinate Certificates will be locked out from receipt of all principal (unless the Senior Certificates are paid down to zero or the credit enhancement provided by the Subordinate Certificates has doubled prior to such date as described below). After such time and subject to standard collateral performance triggers (as described in the prospectus supplement), the Subordinate Certificates will receive their pro-rata share of scheduled principal and increasing portions of unscheduled principal prepayments.
The prepayment percentages on the Subordinate Certificates are as follows:
March 2004 – February 2014
0% Pro Rata Share
March 2014 – February 2015
30% Pro Rata Share
March 2015 – February 2016
40% Pro Rata Share
March 2016 – February 2017
60% Pro Rata Share
March 2017 – February 2018
80% Pro Rata Share
March 2018 and after
100% Pro Rata Share
Notwithstanding the foregoing, if the credit enhancement provided by the Subordinate Certificates doubles, all principal (scheduled principal and prepayments) will be paid pro-rata between the Senior Certificate (other than the Class X Certificates) and Subordinate Certificates (subject to performance triggers). However, if the credit enhancement provided by the Subordinate Certificates has doubled prior to the Distribution Date in March 2007 (subject to performance triggers), then the Subordinate Certificates will be entitled to only 50% of their pro-rata share of principal (scheduled principal and prepayments).
Any principal not allocated to the Subordinate Certificates will be allocated to the Senior Certificates. In the event the applicable current senior percentage (equal to the aggregate principal balance of the Senior Certificates, divided by the aggregate principal balance of the Mortgage Loans) exceeds the initial senior percentage (equal to the aggregate principal balance of the Senior Certificates as of the Closing Date, divided by the sum of the aggregate principal balance of the Mortgage Loans as of the Cut-off Date, the Senior Certificates (other than the Class X Certificates) will receive all unscheduled prepayments from the Mortgage Loans, regardless of any prepayment percentages as described above.
Allocation of
Realized Losses:
Any realized losses on the Mortgage Loans will be allocated as follows:first, to the Subordinate Certificates in reverse order of their alpha numerical Class designations, in each case until the respective class principal balance has been reduced to zero;thereafter, to the Class A Certificates in reduction of their principal balance.
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 reliable. Morgan Stanley makes no representation or warranty 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. 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 an y 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 information, including 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, and may effect transactions 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any sec urities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Certificates Priority of
Distributions:
With respect to any Distribution Date, available funds from the Mortgage Loans will be distributed in the following order of priority:
With respect to any Distribution Date, available funds from the Mortgage Loans will be distributed in the following order of priority:
1)
Senior Certificates, accrued and unpaid interest at the related Certificate Interest Rate, from the related Mortgage Loans; provided that, to the extent of any of the related Net WAC Shortfall amount for such Distribution Date with respect to each of the Offered Certificates, the amount of interest otherwise distributable to the related Class X Certificates shall be deposited in the Reserve Fund.
2)
Class A-R Certificates, principal allocable to such class.
3)
Class A Certificates, principal allocable to such class.
4)
Class B-1 Certificates, accrued and unpaid interest at the related Certificate Interest Rate.
5)
Class B-1 Certificates, principal allocable to such class.
6)
Class B-2 Certificates, accrued and unpaid interest at the related Certificate Interest Rate.
7)
Class B-2 Certificates, principal allocable to such class.
8)
Class A Certificates, the related Net WAC Shortfall amount, from the Reserve Fund.
9)
Class B-1 Certificates, the related Net WAC Shortfall Amount, from the Reserve Fund.
10)
Class B-2 Certificates, the related Net WAC Shortfall Amount, from the Reserve Fund.
11)
Class X Certificates, the excess amounts related to each Class X Certificate, from the Reserve Fund.
12)
Class B-3, Class B-4, Class B-5 and Class B-6 Certificates, in sequential order, accrued and unpaid interest at the related Certificate Interest Rate and the respective shares of principal allocable to such classes.
13)
Class A-R Certificate, any remaining amount.
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 reliable. Morgan Stanley makes no representation or warranty 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. 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 an y 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 information, including 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, and may effect transactions 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any sec urities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sensitivity Tables
Class A To Call |
12% CPR | 15% CPR | 20% CPR | 25% CPR | 30% CPR | 40% CPR | |
WAL (yr) | 6.25 | 5.12 | 3.85 | 3.03 | 2.46 | 1.72 |
MDUR (yr) | 5.78 | 4.79 | 3.66 | 2.90 | 2.37 | 1.68 |
First Prin Pay | 3/20/2004 | 3/20/2004 | 3/20/2004 | 3/20/2004 | 3/20/2004 | 3/20/2004 |
Last Prin Pay | 4/20/2019 | 11/20/2016 | 12/20/2013 | 12/20/2011 | 7/20/2010 | 9/20/2008 |
Class A To Maturity |
12% CPR | 15% CPR | 20% CPR | 25% CPR | 30% CPR | 40% CPR | |
WAL (yr) | 6.66 | 5.51 | 4.20 | 3.32 | 2.70 | 1.89 |
MDUR (yr) | 6.10 | 5.11 | 3.95 | 3.15 | 2.58 | 1.83 |
First Prin Pay | 3/20/2004 | 3/20/2004 | 3/20/2004 | 3/20/2004 | 3/20/2004 | 3/20/2004 |
Last Prin Pay | 1/20/2034 | 1/20/2034 | 1/20/2034 | 1/20/2034 | 1/20/2034 | 1/20/2034 |
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 reliable. Morgan Stanley makes no representation or warranty 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. 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 an y 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 information, including 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, and may effect transactions 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any sec urities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Class B-1 To Call |
12% CPR | 15% CPR | 20% CPR | 25% CPR | 30% CPR | 40% CPR | |
WAL (yr) | 10.45 | 8.65 | 6.57 | 5.37 | 4.58 | 3.46 |
MDUR (yr) | 9.45 | 7.94 | 6.14 | 5.08 | 4.36 | 3.33 |
First Prin Pay | 8/20/2009 | 7/20/2008 | 5/20/2007 | 8/20/2006 | 3/20/2006 | 8/20/2005 |
Last Prin Pay | 4/20/2019 | 11/20/2016 | 12/20/2013 | 12/20/2011 | 7/20/2010 | 9/20/2008 |
Class B-1 To Maturity |
12% CPR | 15% CPR | 20% CPR | 25% CPR | 30% CPR | 40% CPR | |
WAL (yr) | 11.31 | 9.49 | 7.30 | 6.04 | 5.21 | 4.04 |
MDUR (yr) | 10.09 | 8.58 | 6.73 | 5.64 | 4.91 | 3.85 |
First Prin Pay | 8/20/2009 | 7/20/2008 | 5/20/2007 | 8/20/2006 | 3/20/2006 | 8/20/2005 |
Last Prin Pay | 1/20/2034 | 1/20/2034 | 1/20/2034 | 1/20/2034 | 1/20/2034 | 1/20/2034 |
Class B-2 To Call |
12% CPR | 15% CPR | 20% CPR | 25% CPR | 30% CPR | 40% CPR | |
WAL (yr) | 10.45 | 8.65 | 6.57 | 5.37 | 4.58 | 3.46 |
MDUR (yr) | 9.20 | 7.76 | 6.03 | 5.00 | 4.31 | 3.30 |
First Prin Pay | 8/20/2009 | 7/20/2008 | 5/20/2007 | 8/20/2006 | 3/20/2006 | 8/20/2005 |
Last Prin Pay | 4/20/2019 | 11/20/2016 | 12/20/2013 | 12/20/2011 | 7/20/2010 | 9/20/2008 |
Class B-2 To Maturity |
12% CPR | 15% CPR | 20% CPR | 25% CPR | 30% CPR | 40% CPR | |
WAL (yr) | 11.31 | 9.49 | 7.30 | 6.04 | 5.21 | 4.04 |
MDUR (yr) | 9.80 | 8.37 | 6.59 | 5.54 | 4.83 | 3.80 |
First Prin Pay | 8/20/2009 | 7/20/2008 | 5/20/2007 | 8/20/2006 | 3/20/2006 | 8/20/2005 |
Last Prin Pay | 1/20/2034 | 1/20/2034 | 1/20/2034 | 1/20/2034 | 1/20/2034 | 1/20/2034 |
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 reliable. Morgan Stanley makes no representation or warranty 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. 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 an y 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 information, including 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, and may effect transactions 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any sec urities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Class X-1 Price-Yield Sensitivity to Call
Price* | 20% CPR | 25% CPR | 35% CPR | 36% CPR | 50% CPR |
1.1766100 | 11.97 | 11.97 | 11.97 | 10.35 | -15.45 |
1.1844225 | 11.43 | 11.43 | 11.43 | 9.81 | -15.94 |
1.1922350 | 10.89 | 10.89 | 10.89 | 9.28 | -16.42 |
1.2000475 | 10.36 | 10.36 | 10.36 | 8.75 | -16.90 |
1.2078600 | 9.84 | 9.84 | 9.84 | 8.23 | -17.37 |
1.2156725 | 9.32 | 9.32 | 9.32 | 7.71 | -17.84 |
1.2234850 | 8.81 | 8.81 | 8.81 | 7.21 | -18.30 |
1.2312975 | 8.30 | 8.30 | 8.30 | 6.70 | -18.75 |
1.2391100 | 7.80 | 7.80 | 7.80 | 6.21 | -19.20 |
1.2469225 | 7.30 | 7.30 | 7.30 | 5.72 | -19.65 |
1.2547350 | 6.82 | 6.82 | 6.82 | 5.23 | -20.09 |
1.2625475 | 6.33 | 6.33 | 6.33 | 4.75 | -20.52 |
1.2703600 | 5.86 | 5.86 | 5.86 | 4.28 | -20.95 |
1.2781725 | 5.38 | 5.38 | 5.38 | 3.81 | -21.37 |
1.2859850 | 4.92 | 4.92 | 4.92 | 3.35 | -21.79 |
1.2937975 | 4.46 | 4.46 | 4.46 | 2.89 | -22.21 |
1.3016100 | 4.00 | 4.00 | 4.00 | 2.44 | -22.62 |
1.3094225 | 3.55 | 3.55 | 3.55 | 1.99 | -23.02 |
1.3172350 | 3.10 | 3.10 | 3.10 | 1.54 | -23.43 |
1.3250475 | 2.66 | 2.66 | 2.66 | 1.11 | -23.82 |
1.3328600 | 2.22 | 2.22 | 2.22 | 0.67 | -24.22 |
1.3406725 | 1.79 | 1.79 | 1.79 | 0.24 | -24.60 |
1.3484850 | 1.36 | 1.36 | 1.36 | -0.18 | -24.99 |
1.3562975 | 0.94 | 0.94 | 0.94 | -0.60 | -25.37 |
1.3641100 | 0.52 | 0.52 | 0.52 | -1.02 | -25.75 |
1.3719225 | 0.11 | 0.11 | 0.11 | -1.43 | -26.12 |
1.3797350 | -0.30 | -0.30 | -0.30 | -1.84 | -26.49 |
1.3875475 | -0.71 | -0.71 | -0.71 | -2.24 | -26.85 |
1.3953600 | -1.11 | -1.11 | -1.11 | -2.64 | -27.21 |
1.4031725 | -1.51 | -1.51 | -1.51 | -3.03 | -27.57 |
1.4109850 | -1.90 | -1.90 | -1.90 | -3.42 | -27.92 |
1.4187975 | -2.29 | -2.29 | -2.29 | -3.81 | -28.28 |
1.4266100 | -2.68 | -2.68 | -2.68 | -4.20 | -28.62 |
MDUR (yr) | 1.27 | 1.27 | 1.27 | 1.28 | 1.41 |
First Pay | 3/20/2004 | 3/20/2004 | 3/20/2004 | 3/20/2004 | 3/20/2004 |
Last Pay | 8/20/2007 | 8/20/2007 | 8/20/2007 | 8/20/2007 | 6/20/2007 |
*Does not include accrued interest
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 reliable. Morgan Stanley makes no representation or warranty 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. 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 an y 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 information, including 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, and may effect transactions 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any sec urities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Class A, Class B-1 and B-2 Certificates
Effective Net WAC Cap Schedule*
Assumptions : | |||||
20% CPR | |||||
To Cleanup Call | |||||
Class A, B-1 & B-2 Hard Cap of 11.50% | |||||
Distribution | Class A-1 | Class B-1 & B-2 | |||
Period | 30/360 | 30/360 | |||
Net WAC | Net WAC | ||||
1 | 2.7556 | 2.7556 | |||
2 | 3.7526 | 3.7526 | |||
3 | 3.7526 | 3.7526 | |||
4 | 3.7526 | 3.7526 | |||
5 | 3.7526 | 3.7526 | |||
6 | 10.4310 | 10.4310 | |||
7 and After | 11.5000 | 11.5000 |
*The Net WAC Cap is calculated assuming current 1-Month LIBOR or 6-Month LIBOR of 20.00% and is run at the pricing speed of 20% CPR to the clean-up call
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 reliable. Morgan Stanley makes no representation or warranty 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. 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 an y 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 information, including 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, and may effect transactions 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any sec urities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Notional Amount Schedules for the Class X-1
Distribution Date | Nas IO Schedule |
|
|
March 2004 | $671,999,000.00 |
April 2004 | 647,315,818.00 |
May 2004 | 623,502,914.54 |
June 2004 | 600,529,698.44 |
July 2004 | 578,366,560.77 |
August 2004 | 556,984,936.66 |
September 2004 | 536,357,268.46 |
October 2004 | 516,456,970.31 |
November 2004 | 497,258,393.76 |
December 2004 | 478,736,794.82 |
January 2005 | 460,868,301.98 |
February 2005 | 443,629,885.51 |
March 2005 | 426,999,327.73 |
April 2005 | 410,955,194.43 |
May 2005 | 395,476,807.18 |
June 2005 | 380,544,216.72 |
July 2005 | 366,138,177.24 |
August 2005 | 352,240,121.56 |
September 2005 | 338,832,137.24 |
October 2005 | 325,896,943.43 |
November 2005 | 313,417,868.68 |
December 2005 | 301,872,499.86 |
January 2006 | 290,742,946.14 |
February 2006 | 280,014,391.64 |
March 2006 | 269,672,545.64 |
April 2006 | 259,703,623.97 |
May 2006 | 250,094,331.16 |
June 2006 | 240,831,843.08 |
July 2006 | 231,903,790.38 |
August 2006 | 223,298,242.30 |
September 2006 | 215,003,691.25 |
October 2006 | 207,009,037.78 |
November 2006 | 199,303,576.19 |
December 2006 | 191,876,980.60 |
January 2007 | 184,719,291.47 |
February 2007 | 177,820,902.70 |
March 2007 | 171,172,549.11 |
April 2007 | 165,136,685.93 |
May 2007 | 159,313,658.53 |
June 2007 | 153,695,961.94 |
July 2007 | 148,276,355.80 |
August 2007 | 143,047,855.08 |
September 2007 and thereafter | $0.00 |
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 reliable. Morgan Stanley makes no representation or warranty 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. 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 an y 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 information, including 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, and may effect transactions 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any sec urities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Sequoia Mortgage Trust 2004-2
Total Collateral – Mortgage Loans
As of the Statistical Cut-Off Date
Total Current Balance: | $699,999,349 | |||||
Number Of Loans: | 1,992 | |||||
| ||||||
Minimum | Maximum | |||||
Average Current Balance: | $351,405 | $50,000 | $7,000,000 | |||
Average Original Balance: | $351,426 | $50,000 | $7,000,000 | |||
| ||||||
Weighted Average Loan Rate: | 3.143 | % | 2.375 | % | 3.625 | % |
Weighted Average Servicing Fee: | 0.377 | % | 0.375 | % | 0.875 | % |
Weighted Average Net Loan Rate: | 2.765 | % | 2.000 | % | 3.250 | % |
| ||||||
Weighted Average Gross Margin: | 1.893 | % | 1.250 | % | 2.500 | % |
Weighted Average Maximum Loan Rate: | 12.000 | % | 12.000 | % | 12.000 | % |
Weighted Average Periodic Rate Cap: | 0.000 | % | 0.000 | % | 0.000 | % |
Weighted Average First Rate Cap: | 0.000 | % | 0.000 | % | 0.000 | % |
| ||||||
Weighted Average Original LTV: | 69.32 | % | 12.00 | % | 100.00 | % |
Weighted Average Effective LTV: | 68.88 | % | 12.00 | % | 95.00 | % |
| ||||||
Weighted Average Credit Score: | 728 |
| 544 |
| 816 |
|
| ||||||
Weighted Average Original Term: | 346 | months | 300 | months | 360 | months |
Weighted Average Remaining Term: | 345 | months | 283 | months | 360 | months |
Weighted Average Seasoning: | 0 | months | 0 | months | 17 | months |
| ||||||
Weighted Average Next Rate Reset: | 5 | months | 1 | months | 6 | months |
Weighted Average Rate Adj Freq: | 5 | months | 1 | months | 6 | months |
Weighted Average First Rate Adj Freq: | 5 | months | 1 | months | 6 | months |
| ||||||
Weighted Average IO Original Term: | 74 | months | 60 | months | 120 | months |
Weighted Average IO Remaining Term: | 74 | months | 48 | months | 120 | months |
| ||||||
Top State Concentrations ($): | 32.40 % California, 10.85 % Florida, 6.00 % Arizona | |||||
Maximum Zip Code ($): | 1.00 % 90210 | |||||
| ||||||
First Pay Date: | Sep 01, 2002 | Mar 01, 2004 | ||||
Rate Change Date: | Feb 01, 2004 | Aug 01, 2004 | ||||
Maturity Date: | Aug 01, 2027 | Feb 01, 2034 |
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 reliable. Morgan Stanley makes no representation or warranty 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. 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 an y 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 information, including 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, and may effect transactions 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any sec urities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
INDEX | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
LIBOR 6 Month | 1,818 | $622,879,053.74 | 88.98 | % | |||
LIBOR 1 Month | 174 | 77,120,295.59 | 11.02 | ||||
Total | 1,992 | $699,999,349.33 | 100.00 | % | |||
CURRENT MORTGAGE LOAN PRINCIPAL BALANCE ($) | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
0.01 - 100,000.00 | 144 | $11,431,883.30 | 1.63 | % | |||
100,000.01 - 200,000.00 | 559 | 83,769,263.77 | 11.97 | ||||
200,000.01 - 300,000.00 | 419 | 103,638,831.32 | 14.81 | ||||
300,000.01 - 400,000.00 | 262 | 91,803,383.53 | 13.11 | ||||
400,000.01 - 500,000.00 | 209 | 94,407,135.71 | 13.49 | ||||
500,000.01 - 600,000.00 | 149 | 82,509,703.90 | 11.79 | ||||
600,000.01 - 700,000.00 | 87 | 55,788,069.99 | 7.97 | ||||
700,000.01 - 800,000.00 | 41 | 30,862,238.19 | 4.41 | ||||
800,000.01 - 900,000.00 | 24 | 20,675,750.00 | 2.95 | ||||
900,000.01 - 1,000,000.00 | 54 | 52,819,490.62 | 7.55 | ||||
1,000,000.01 - 1,500,000.00 | 29 | 37,652,100.00 | 5.38 | ||||
1,500,000.01 - 2,000,000.00 | 11 | 19,671,499.00 | 2.81 | ||||
2,000,000.01 - 2,500,000.00 | 2 | 4,620,000.00 | 0.66 | ||||
3,000,000.01 - 3,500,000.00 | 1 | 3,350,000.00 | 0.48 | ||||
5,000,000.01 > = | 1 | 7,000,000.00 | 1.00 | ||||
Total: | 1,992 | $699,999,349.33 | 100.00 | % |
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 reliable. Morgan Stanley makes no representation or warranty 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. 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 an y 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 information, including 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, and may effect transactions 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any sec urities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
CURRENT MORTGAGE RATES (%) | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
2.251 - 2.500 | 20 | $5,470,950.00 | 0.78 | % | |||
2.501 - 2.750 | 210 | 75,497,788.32 | 10.79 | ||||
2.751 - 3.000 | 448 | 162,631,992.42 | 23.23 | ||||
3.001 - 3.250 | 843 | 276,201,312.81 | 39.46 | ||||
3.251 - 3.500 | 440 | 167,755,254.79 | 23.97 | ||||
3.501 - 3.750 | 31 | 12,442,050.99 | 1.78 | ||||
Total: | 1,992 | $699,999,349.33 | 100.00 | % | |||
MARGIN (%) | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
1.250 | 20 | $5,357,600.00 | 0.77 | % | |||
1.375 | 18 | 5,870,163.00 | 0.84 | ||||
1.500 | 141 | 54,023,548.60 | 7.72 | ||||
1.625 | 331 | 115,967,695.65 | 16.57 | ||||
1.750 | 166 | 59,816,922.74 | 8.55 | ||||
1.875 | 378 | 112,723,036.99 | 16.10 | ||||
2.000 | 507 | 183,042,531.58 | 26.15 | ||||
2.125 | 172 | 71,318,390.39 | 10.19 | ||||
2.250 | 258 | 89,599,460.38 | 12.80 | ||||
2.500 | 1 | 2,280,000.00 | 0.33 | ||||
Total: | 1,992 | $699,999,349.33 | 100.00 | % | |||
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 reliable. Morgan Stanley makes no representation or warranty 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. 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 an y 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 information, including 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, and may effect transactions 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any sec urities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
ORIGINAL TERM | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
300 | 376 | $169,036,402.27 | 24.15 | % | |||
360 | 1,616 | 530,962,947.06 | 75.85 | ||||
Total: | 1,992 | $699,999,349.33 | 100.00 | % | |||
REMAINING TERM TO STATED MATURITY | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
283 - 288 | 1 | $581,750.00 | 0.08 | % | |||
295 - 300 | 375 | 168,454,652.27 | 24.06 | ||||
343 - 348 | 1 | 560,000.00 | 0.08 | ||||
349 - 354 | 2 | 378,000.00 | 0.05 | ||||
355 - 360 | 1,613 | 530,024,947.06 | 75.72 | ||||
Total: | 1,992 | $699,999,349.33 | 100.00 | % | |||
REMAINING IO TERM | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
43 - 48 | 1 | $560,000.00 | 0.08 | % | |||
49 - 54 | 2 | 378,000.00 | 0.05 | ||||
55 - 60 | 1,613 | 530,024,947.06 | 75.72 | ||||
103 - 108 | 1 | 581,750.00 | 0.08 | ||||
115 - 120 | 375 | 168,454,652.27 | 24.06 | ||||
Total: | 1,992 | $699,999,349.33 | 100.00 | % | |||
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 reliable. Morgan Stanley makes no representation or warranty 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. 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 an y 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 information, including 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, and may effect transactions 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any sec urities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
NEXT RATE ADJUSTMENT DATE | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
2/1/2004 | 76 | $36,706,231.59 | 5.24 | % | |||
3/1/2004 | 118 | 48,751,073.23 | 6.96 | ||||
4/1/2004 | 4 | 879,181.64 | 0.13 | ||||
5/1/2004 | 10 | 5,370,091.97 | 0.77 | ||||
6/1/2004 | 88 | 29,783,159.32 | 4.25 | ||||
7/1/2004 | 896 | 314,199,212.58 | 44.89 | ||||
8/1/2004 | 800 | 264,310,399.00 | 37.76 | ||||
Total: | 1,992 | $699,999,349.33 | 100.00 | % | |||
ORIGINAL LOAN - TO - VALUE RATIO(%) | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
10.01 - 20.00 | 11 | $1,958,000.00 | 0.28 | % | |||
20.01 - 30.00 | 12 | 3,746,200.00 | 0.54 | ||||
30.01 - 40.00 | 64 | 26,173,908.00 | 3.74 | ||||
40.01 - 50.00 | 104 | 43,710,757.65 | 6.24 | ||||
50.01 - 60.00 | 173 | 65,417,589.73 | 9.35 | ||||
60.01 - 65.00 | 150 | 70,937,449.99 | 10.13 | ||||
65.01 - 70.00 | 267 | 103,733,323.62 | 14.82 | ||||
70.01 - 75.00 | 371 | 132,872,781.03 | 18.98 | ||||
75.01 - 80.00 | 716 | 224,071,628.54 | 32.01 | ||||
80.01 - 85.00 | 14 | 2,771,917.06 | 0.40 | ||||
85.01 - 90.00 | 44 | 8,768,355.07 | 1.25 | ||||
90.01 - 95.00 | 41 | 7,908,612.00 | 1.13 | ||||
95.01 - 100.00 | 25 | 7,928,826.64 | 1.13 | ||||
Total: | 1,992 | $699,999,349.33 | 100.00 | % | |||
; |
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 reliable. Morgan Stanley makes no representation or warranty 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. 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 an y 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 information, including 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, and may effect transactions 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any sec urities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
EFFECTIVE LOAN - TO - VALUE RATIO(%) | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
10.01 - 20.00 | 12 | $2,193,000.00 | 0.31 | % | |||
20.01 - 30.00 | 13 | 4,142,200.00 | 0.59 | ||||
30.01 - 40.00 | 64 | 26,173,908.00 | 3.74 | ||||
40.01 - 50.00 | 105 | 44,060,657.65 | 6.29 | ||||
50.01 - 60.00 | 177 | 66,488,257.37 | 9.50 | ||||
60.01 - 65.00 | 150 | 70,937,449.99 | 10.13 | ||||
65.01 - 70.00 | 292 | 111,083,232.62 | 15.87 | ||||
70.01 - 75.00 | 370 | 132,637,781.03 | 18.95 | ||||
75.01 - 80.00 | 715 | 223,790,628.54 | 31.97 | ||||
80.01 - 85.00 | 14 | 2,771,917.06 | 0.40 | ||||
85.01 - 90.00 | 42 | 8,434,005.07 | 1.20 | ||||
90.01 - 95.00 | 38 | 7,286,312.00 | 1.04 | ||||
Total: | 1,992 | $699,999,349.33 | 100.00 | % | |||
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 reliable. Morgan Stanley makes no representation or warranty 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. 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 an y 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 information, including 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, and may effect transactions 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any sec urities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. 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 reliable. Morgan Stanley makes no representation or warranty 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. 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 an y 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 information, including 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, and may effect transactions 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any sec urities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
DOCUMENTATION | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Full | 1,203 | $361,105,752.78 | 51.59 | % | |||
Limited | 514 | 220,493,163.10 | 31.50 | ||||
Alternative | 138 | 69,127,912.53 | 9.88 | ||||
Light Documentation | 125 | 45,703,020.92 | 6.53 | ||||
No Ratio | 10 | 2,390,500.00 | 0.34 | ||||
Asset, No Income | 2 | 1,179,000.00 | 0.17 | ||||
Total: | 1,992 | $699,999,349.33 | 100.00 | % | |||
OCCUPANCY | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Primary | 1,784 | $636,720,139.19 | 90.96 | % | |||
Second Home | 131 | 48,456,896.14 | 6.92 | ||||
Investment | 77 | 14,822,314.00 | 2.12 | ||||
Total: | 1,992 | $699,999,349.33 | 100.00 | % | |||
PROPERTY TYPE | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Single Family Residence | 1,164 | $406,389,321.52 | 58.06 | % | |||
PUD | 622 | 227,291,814.83 | 32.47 | ||||
Condo | 173 | 53,425,052.98 | 7.63 | ||||
2 to 4 Family | 22 | 8,207,160.00 | 1.17 | ||||
Co-op | 11 | 4,686,000.00 | 0.67 | ||||
Total: | 1,992 | $699,999,349.33 | 100.00 | % |
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 reliable. Morgan Stanley makes no representation or warranty 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. 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 an y 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 information, including 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, and may effect transactions 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any sec urities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
PURPOSE | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Refinance - Rate Term | 956 | $289,641,269.02 | 41.38 | % | |||
Purchase | 582 | 239,301,596.35 | 34.19 | ||||
Refinance - Cash out | 454 | 171,056,483.96 | 24.44 | ||||
Total: | 1,992 | $699,999,349.33 | 100.00 | % |
GEOGRAPHIC DISTRIBUTION BY BALANCE | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
Alaska | 2 | $412,000.00 | 0.06 | % | |||
Arizona | 155 | 42,002,940.00 | 6.00 | ||||
Arkansas | 3 | 739,400.00 | 0.11 | ||||
California | 462 | 226,799,044.99 | 32.4 | ||||
Colorado | 133 | 38,377,164.99 | 5.48 | ||||
Connecticut | 10 | 6,935,900.00 | 0.99 | ||||
Delaware | 1 | 620,000.00 | 0.09 | ||||
District of Columbia | 3 | 1,244,750.00 | 0.18 | ||||
Florida | 211 | 75,982,662.05 | 10.85 | ||||
Georgia | 98 | 29,280,524.71 | 4.18 | ||||
Hawaii | 5 | 1,151,000.00 | 0.16 | ||||
Idaho | 6 | 2,011,200.00 | 0.29 | ||||
Illinois | 46 | 17,420,990.62 | 2.49 | ||||
Indiana | 7 | 1,266,900.00 | 0.18 | ||||
Iowa | 1 | 114,160.00 | 0.02 | ||||
Kansas | 6 | 1,059,500.00 | 0.15 | ||||
Kentucky | 4 | 569,000.00 | 0.08 | ||||
Louisiana | 6 | 1,224,780.00 | 0.17 | ||||
Maine | 1 | 344,000.00 | 0.05 | ||||
Maryland | 29 | 10,797,100.00 | 1.54 | ||||
Massachusetts | 29 | 16,906,298.97 | 2.42 | ||||
Michigan | 51 | 14,678,540.00 | 2.10 | ||||
Minnesota | 16 | 3,737,050.00 | 0.53 | ||||
Mississippi | 1 | 91,000.00 | 0.01 | ||||
Missouri | 10 | 3,275,130.00 | 0.47 | ||||
Montana | 1 | 406,000.00 | 0.06 | ||||
Nebraska | 3 | 577,467.64 | 0.08 | ||||
Nevada | 48 | 14,603,168.19 | 2.09 | ||||
New Jersey | 33 | 18,192,745.49 | 2.60 |
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 reliable. Morgan Stanley makes no representation or warranty 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. 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 an y 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 information, including 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, and may effect transactions 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any sec urities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
GEOGRAPHIC DISTRIBUTION BY BALANCE (continued) | Number of Mortgage Loans | Principal Balance Outstanding as of the Statistical Cut-off Date | % of Aggregate Principal Balance Outstanding as of the Statistical Cut-off Date | ||||
New Mexico | 4 | 658,300.00 | 0.09 | ||||
New York | 38 | 19,980,200.00 | 2.85 | ||||
North Carolina | 68 | 18,437,200.99 | 2.63 | ||||
North Dakota | 1 | 282,960.00 | 0.04 | ||||
Ohio | 163 | 28,755,596.70 | 4.11 | ||||
Oklahoma | 4 | 835,649.99 | 0.12 | ||||
Oregon | 13 | 5,764,150.00 | 0.82 | ||||
Pennsylvania | 27 | 9,830,225.99 | 1.40 | ||||
Rhode Island | 5 | 958,900.00 | 0.14 | ||||
South Carolina | 20 | 5,711,550.00 | 0.82 | ||||
Tennessee | 20 | 5,450,182.32 | 0.78 | ||||
Texas | 103 | 32,408,713.65 | 4.63 | ||||
Utah | 34 | 8,293,974.99 | 1.18 | ||||
Virginia | 46 | 14,196,109.99 | 2.03 | ||||
Virgin Islands | 1 | 581,750.00 | 0.08 | ||||
Washington | 61 | 16,328,167.06 | 2.33 | ||||
Wisconsin | 2 | 512,300.00 | 0.07 | ||||
Wyoming | 1 | 193,000.00 | 0.03 | ||||
Total: | 1,992 | $699,999,349.33 | 100.00 | % |
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 reliable. Morgan Stanley makes no representation or warranty 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. 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 an y 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 information, including 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, and may effect transactions 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any sec urities discussed herein supercedes all prior information regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. 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 reliable. Morgan Stanley makes no representation or warranty 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 informati on 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 t o the assumptions may have a material impact on any returns detailed. Morgan Stanley 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 the information contained here in. Additional information is available upon request. Morgan Stanley 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior informat ion regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Security A |
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Scenario 20M |
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Avg Life: 4.1999 Total Interest: 41,267,667.89 |
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Per | Date | Balance | Principal | Interest | Coupon | Total | ||
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| Cash |
0 | 2/25/2004 | 671,999,000.00 | 0 | 0 | -1 | 0 |
1 | 3/20/2004 | 659,102,682.90 | 12,896,317.10 | 671,999.00 | 1.44 | 13,568,316.10 |
2 | 4/20/2004 | 646,443,862.55 | 12,658,820.35 | 790,923.22 | 1.44 | 13,449,743.57 |
3 | 5/20/2004 | 634,018,261.61 | 12,425,600.95 | 775,732.64 | 1.44 | 13,201,333.58 |
4 | 6/20/2004 | 621,821,583.35 | 2,196,678.26 | 760,821.91 | 1.44 | 12,957,500.17 |
5 | 7/20/2004 | 609,849,610.23 | 11,971,973.12 | 746,185.90 | 1.44 | 12,718,159.02 |
6 | 8/20/2004 | 598,098,202.39 | 11,751,407.83 | 731,819.53 | 1.44 | 12,483,227.36 |
7 | 9/20/2004 | 586,563,296.27 | 11,534,906.12 | 717,717.84 | 1.44 | 12,252,623.96 |
8 | 10/20/2004 | 575,240,903.15 | 11,322,393.12 | 703,875.96 | 1.44 | 12,026,269.08 |
9 | 11/20/2004 | 564,127,107.80 | 11,113,795.35 | 690,289.08 | 1.44 | 11,804,084.44 |
10 | 12/20/2004 | 553,218,067.12 | 10,909,040.67 | 676,952.53 | 1.44 | 11,585,993.20 |
11 | 1/20/2005 | 542,510,008.83 | 10,708,058.29 | 663,861.68 | 1.44 | 11,371,919.97 |
12 | 2/20/2005 | 531,999,230.13 | 10,510,778.70 | 651,012.01 | 1.44 | 11,161,790.71 |
13 | 3/20/2005 | 521,682,096.45 | 10,317,133.68 | 638,399.08 | 1.44 | 10,955,532.76 |
14 | 4/20/2005 | 511,555,040.18 | 10,127,056.28 | 626,018.52 | 1.44 | 10,753,074.79 |
15 | 5/20/2005 | 501,614,559.42 | 9,940,480.76 | 613,866.05 | 1.44 | 10,554,346.81 |
16 | 6/20/2005 | 491,857,216.81 | 9,757,342.61 | 601,937.47 | 1.44 | 10,359,280.08 |
17 | 7/20/2005 | 482,279,638.31 | 9,577,578.50 | 590,228.66 | 1.44 | 10,167,807.16 |
18 | 8/20/2005 | 472,878,512.05 | 9,401,126.27 | 578,735.57 | 1.44 | 9,979,861.83 |
19 | 9/20/2005 | 463,650,587.15 | 9,227,924.90 | 567,454.21 | 1.44 | 9,795,379.11 |
20 | 10/20/2005 | 454,592,672.65 | 9,057,914.50 | 556,380.70 | 1.44 | 9,614,295.20 |
21 | 11/20/2005 | 445,701,636.37 | 8,891,036.28 | 545,511.21 | 1.44 | 9,436,547.49 |
22 | 12/20/2005 | 436,974,403.83 | 8,727,232.54 | 534,841.96 | 1.44 | 9,262,074.50 |
23 | 1/20/2006 | 428,407,957.20 | 8,566,446.63 | 524,369.28 | 1.44 | 9,090,815.92 |
24 | 2/20/2006 | 419,999,334.24 | 8,408,622.96 | 514,089.55 | 1.44 | 8,922,712.51 |
25 | 3/20/2006 | 411,745,627.30 | 8,253,706.94 | 503,999.20 | 1.44 | 8,757,706.15 |
26 | 4/20/2006 | 403,643,982.28 | 8,101,645.02 | 494,094.75 | 1.44 | 8,595,739.77 |
27 | 5/20/2006 | 395,691,597.67 | 7,952,384.61 | 484,372.78 | 1.44 | 8,436,757.38 |
28 | 6/20/2006 | 387,885,723.58 | 7,805,874.09 | 474,829.92 | 1.44 | 8,280,704.00 |
29 | 7/20/2006 | 380,223,660.79 | 7,662,062.80 | 465,462.87 | 1.44 | 8,127,525.67 |
30 | 8/20/2006 | 372,702,759.77 | 7,520,901.01 | 456,268.39 | 1.44 | 7,977,169.41 |
31 | 9/20/2006 | 365,320,419.86 | 7,382,339.92 | 447,243.31 | 1.44 | 7,829,583.23 |
32 | 10/20/2006 | 358,074,088.26 | 7,246,331.60 | 438,384.50 | 1.44 | 7,684,716.10 |
33 | 11/20/2006 | 350,961,259.23 | 7,112,829.03 | 429,688.91 | 1.44 | 7,542,517.93 |
34 | 12/20/2006 | 343,979,473.20 | 6,981,786.03 | 421,153.51 | 1.44 | 7,402,939.54 |
35 | 1/20/2007 | 337,126,315.89 | 6,853,157.31 | 412,775.37 | 1.44 | 7,265,932.67 |
36 | 2/20/2007 | 330,399,417.53 | 6,726,898.37 | 404,551.58 | 1.44 | 7,131,449.95 |
37 | 3/20/2007 | 323,796,451.97 | 6,602,965.56 | 396,479.30 | 1.44 | 6,999,444.86 |
38 | 4/20/2007 | 317,315,135.95 | 6,481,316.02 | 388,555.74 | 1.44 | 6,869,871.76 |
39 | 5/20/2007 | 311,469,090.03 | 5,846,045.93 | 380,778.16 | 1.44 | 6,226,824.09 |
40 | 6/20/2007 | 305,730,748.55 | 5,738,341.48 | 373,762.91 | 1.44 | 6,112,104.38 |
41 | 7/20/2007 | 300,098,127.24 | 5,632,621.31 | 366,876.90 | 1.44 | 5,999,498.21 |
42 | 8/20/2007 | 294,569,278.36 | 5,528,848.88 | 360,117.75 | 1.44 | 5,888,966.63 |
43 | 9/20/2007 | 289,142,290.06 | 5,426,988.30 | 353,483.13 | 1.44 | 5,780,471.43 |
44 | 10/20/2007 | 283,815,285.71 | 5,327,004.34 | 346,970.75 | 1.44 | 5,673,975.09 |
45 | 11/20/2007 | 278,586,423.28 | 5,228,862.44 | 340,578.34 | 1.44 | 5,569,440.78 |
46 | 12/20/2007 | 273,453,894.63 | 5,132,528.65 | 334,303.71 | 1.44 | 5,466,832.35 |
47 | 1/20/2008 | 268,415,924.97 | 5,037,969.66 | 328,144.67 | 1.44 | 5,366,114.33 |
48 | 2/20/2008 | 263,470,772.20 | 4,945,152.78 | 322,099.11 | 1.44 | 5,267,251.89 |
49 | 3/20/2008 | 258,616,726.29 | 4,854,045.90 | 316,164.93 | 1.44 | 5,170,210.83 |
50 | 4/20/2008 | 253,852,108.76 | 4,764,617.53 | 310,340.07 | 1.44 | 5,074,957.60 |
51 | 5/20/2008 | 249,175,272.02 | 4,676,836.74 | 304,622.53 | 1.44 | 4,981,459.27 |
52 | 6/20/2008 | 244,584,598.84 | 4,590,673.18 | 299,010.33 | 1.44 | 4,889,683.51 |
53 | 7/20/2008 | 240,078,501.79 | 4,506,097.05 | 293,501.52 | 1.44 | 4,799,598.57 |
54 | 8/20/2008 | 235,655,422.69 | 4,423,079.11 | 288,094.20 | 1.44 | 4,711,173.31 |
55 | 9/20/2008 | 231,313,832.05 | 4,341,590.64 | 282,786.51 | 1.44 | 4,624,377.15 |
56 | 10/20/2008 | 227,052,228.57 | 4,261,603.47 | 277,576.60 | 1.44 | 4,539,180.07 |
57 | 11/20/2008 | 222,869,138.62 | 4,183,089.95 | 272,462.67 | 1.44 | 4,455,552.62 |
58 | 12/20/2008 | 218,763,115.70 | 4,106,022.92 | 267,442.97 | 1.44 | 4,373,465.88 |
59 | 1/20/2009 | 214,732,739.98 | 4,030,375.73 | 262,515.74 | 1.44 | 4,292,891.47 |
60 | 2/20/2009 | 210,423,287.23 | 4,309,452.75 | 257,679.29 | 1.44 | 4,567,132.04 |
61 | 3/20/2009 | 206,198,842.36 | 4,224,444.87 | 252,507.94 | 1.44 | 4,476,952.81 |
62 | 4/20/2009 | 202,057,750.07 | 4,141,092.29 | 247,438.61 | 1.44 | 4,388,530.90 |
63 | 5/20/2009 | 197,998,386.96 | 4,059,363.10 | 242,469.30 | 1.44 | 4,301,832.40 |
64 | 6/20/2009 | 194,019,160.96 | 3,979,226.00 | 237,598.06 | 1.44 | 4,216,824.07 |
65 | 7/20/2009 | 190,118,510.68 | 3,900,650.29 | 232,822.99 | 1.44 | 4,133,473.28 |
66 | 8/20/2009 | 186,294,904.84 | 3,823,605.84 | 228,142.21 | 1.44 | 4,051,748.05 |
67 | 9/20/2009 | 182,546,841.72 | 3,748,063.12 | 223,553.89 | 1.44 | 3,971,617.00 |
68 | 10/20/2009 | 178,872,848.57 | 3,673,993.15 | 219,056.21 | 1.44 | 3,893,049.36 |
69 | 11/20/2009 | 175,271,481.06 | 3,601,367.52 | 214,647.42 | 1.44 | 3,816,014.93 |
70 | 12/20/2009 | 171,741,322.72 | 3,530,158.34 | 210,325.78 | 1.44 | 3,740,484.12 |
71 | 1/20/2010 | 168,280,984.44 | 3,460,338.28 | 206,089.59 | 1.44 | 3,666,427.87 |
72 | 2/20/2010 | 164,889,103.92 | 3,391,880.52 | 201,937.18 | 1.44 | 3,593,817.70 |
73 | 3/20/2010 | 161,564,345.17 | 3,324,758.75 | 197,866.92 | 1.44 | 3,522,625.67 |
74 | 4/20/2010 | 158,305,398.01 | 3,258,947.17 | 193,877.21 | 1.44 | 3,452,824.38 |
75 | 5/20/2010 | 155,110,977.54 | 3,194,420.47 | 189,966.48 | 1.44 | 3,384,386.95 |
76 | 6/20/2010 | 151,979,823.70 | 3,131,153.84 | 186,133.17 | 1.44 | 3,317,287.01 |
77 | 7/20/2010 | 148,910,700.78 | 3,069,122.92 | 182,375.79 | 1.44 | 3,251,498.70 |
78 | 8/20/2010 | 145,902,396.95 | 3,008,303.83 | 178,692.84 | 1.44 | 3,186,996.67 |
79 | 9/20/2010 | 142,953,723.79 | 2,948,673.16 | 175,082.88 | 1.44 | 3,123,756.03 |
80 | 10/20/2010 | 140,063,515.87 | 2,890,207.92 | 171,544.47 | 1.44 | 3,061,752.39 |
81 | 11/20/2010 | 137,230,630.28 | 2,832,885.60 | 168,076.22 | 1.44 | 3,000,961.81 |
82 | 12/20/2010 | 134,453,946.20 | 2,776,684.07 | 164,676.76 | 1.44 | 2,941,360.83 |
83 | 1/20/2011 | 131,732,364.53 | 2,721,581.67 | 161,344.74 | 1.44 | 2,882,926.41 |
84 | 2/20/2011 | 129,064,807.39 | 2,667,557.14 | 158,078.84 | 1.44 | 2,825,635.98 |
85 | 3/20/2011 | 126,450,217.77 | 2,614,589.62 | 154,877.77 | 1.44 | 2,769,467.39 |
86 | 4/20/2011 | 123,887,559.11 | 2,562,658.66 | 151,740.26 | 1.44 | 2,714,398.92 |
87 | 5/20/2011 | 121,375,814.91 | 2,511,744.19 | 148,665.07 | 1.44 | 2,660,409.26 |
88 | 6/20/2011 | 118,913,988.37 | 2,461,826.55 | 145,650.98 | 1.44 | 2,607,477.52 |
89 | 7/20/2011 | 116,501,101.94 | 2,412,886.42 | 142,696.79 | 1.44 | 2,555,583.21 |
90 | 8/20/2011 | 114,136,197.06 | 2,364,904.89 | 139,801.32 | 1.44 | 2,504,706.21 |
91 | 9/20/2011 | 111,818,333.67 | 2,317,863.38 | 136,963.44 | 1.44 | 2,454,826.82 |
92 | 10/20/2011 | 109,546,589.98 | 2,271,743.69 | 134,182.00 | 1.44 | 2,405,925.69 |
93 | 11/20/2011 | 107,320,062.01 | 2,226,527.97 | 131,455.91 | 1.44 | 2,357,983.87 |
94 | 12/20/2011 | 105,137,863.34 | 2,182,198.68 | 128,784.07 | 1.44 | 2,310,982.75 |
95 | 1/20/2012 | 102,999,124.68 | 2,138,738.66 | 126,165.44 | 1.44 | 2,264,904.09 |
96 | 2/20/2012 | 100902993.6 | 2,096,131.05 | 123,598.95 | 1.44 | 2,219,730.00 |
97 | 3/20/2012 | 98848634.31 | 2,054,359.32 | 121,083.59 | 1.44 | 2,175,442.92 |
98 | 4/20/2012 | 96835227.03 | 2,013,407.28 | 118618.36 | 1.44 | 2132025.64 |
99 | 5/20/2012 | 94861968.01 | 1,973,259.02 | 116202.27 | 1.44 | 2089461.29 |
100 | 6/20/2012 | 92928069.07 | 1,933,898.94 | 113834.36 | 1.44 | 2047733.3 |
101 | 7/20/2012 | 91032757.3 | 1,895,311.77 | 111513.68 | 1.44 | 2006825.45 |
102 | 8/20/2012 | 89175274.81 | 1,857,482.49 | 109239.31 | 1.44 | 1966721.8 |
103 | 9/20/2012 | 87354878.41 | 1,820,396.40 | 107010.33 | 1.44 | 1927406.73 |
104 | 10/20/2012 | 85570839.33 | 1,784,039.08 | 104825.85 | 1.44 | 1888864.94 |
105 | 11/20/2012 | 83822442.96 | 1,748,396.37 | 102685.01 | 1.44 | 1851081.38 |
106 | 12/20/2012 | 82108988.56 | 1,713,454.40 | 100586.93 | 1.44 | 1814041.33 |
107 | 1/20/2013 | 80429789 | 1,679,199.55 | 98530.79 | 1.44 | 1777730.34 |
108 | 2/20/2013 | 78784170.51 | 1,645,618.49 | 96515.75 | 1.44 | 1742134.23 |
109 | 3/20/2013 | 77171472.41 | 1,612,698.11 | 94541 | 1.44 | 1707239.11 |
110 | 4/20/2013 | 75591046.83 | 1,580,425.58 | 92605.77 | 1.44 | 1673031.34 |
111 | 5/20/2013 | 74042258.53 | 1,548,788.30 | 90709.26 | 1.44 | 1639497.55 |
112 | 6/20/2013 | 72524484.61 | 1,517,773.93 | 88850.71 | 1.44 | 1606624.64 |
113 | 7/20/2013 | 71037114.26 | 1,487,370.35 | 87029.38 | 1.44 | 1574399.73 |
114 | 8/20/2013 | 69579548.57 | 1,457,565.68 | 85244.54 | 1.44 | 1542810.22 |
115 | 9/20/2013 | 68151200.29 | 1,428,348.29 | 83495.46 | 1.44 | 1511843.74 |
116 | 10/20/2013 | 66751493.56 | 1,399,706.72 | 81781.44 | 1.44 | 1481488.17 |
117 | 11/20/2013 | 65379863.76 | 1,371,629.80 | 80101.79 | 1.44 | 1451731.59 |
118 | 12/20/2013 | 64035757.25 | 1,344,106.51 | 78455.84 | 1.44 | 1422562.35 |
119 | 1/20/2014 | 62718631.15 | 1,317,126.10 | 91250.95 | 1.71 | 1408377.05 |
120 | 2/20/2014 | 61406030.77 | 1,312,600.39 | 89374.05 | 1.71 | 1401974.44 |
121 | 3/20/2014 | 60068950.72 | 1,337,080.04 | 87503.59 | 1.71 | 1424583.64 |
122 | 4/20/2014 | 58759784.82 | 1,309,165.90 | 85,598.25 | 1.71 | 1,394,764.16 |
123 | 5/20/2014 | 57477966.48 | 1,281,818.34 | 83732.69 | 1.71 | 1365551.04 |
124 | 6/20/2014 | 56222940.39 | 1,255,026.08 | 81906.1 | 1.71 | 1336932.19 |
125 | 7/20/2014 | 54994162.31 | 1,228,778.08 | 80117.69 | 1.71 | 1308895.77 |
126 | 8/20/2014 | 53791098.82 | 1,203,063.50 | 78366.68 | 1.71 | 1281430.18 |
127 | 9/20/2014 | 52613227.11 | 1,177,871.71 | 76652.32 | 1.71 | 1254524.02 |
128 | 10/20/2014 | 51460034.81 | 1,153,192.30 | 74973.85 | 1.71 | 1228166.15 |
129 | 11/20/2014 | 50331019.74 | 1,129,015.07 | 73330.55 | 1.71 | 1202345.62 |
130 | 12/20/2014 | 49225689.73 | 1,105,330.01 | 71721.7 | 1.71 | 1177051.71 |
131 | 1/20/2015 | 48143562.44 | 1,082,127.29 | 70146.61 | 1.71 | 1152273.9 |
132 | 2/20/2015 | 47084165.13 | 1,059,397.31 | 68604.58 | 1.71 | 1128001.89 |
133 | 3/20/2015 | 46047034.5 | 1,037,130.63 | 67094.94 | 1.71 | 1104225.56 |
134 | 4/20/2015 | 45031716.5 | 1,015,318.01 | 65617.02 | 1.71 | 1080935.03 |
135 | 5/20/2015 | 44037766.12 | 993,950.37 | 64170.2 | 1.71 | 1058120.57 |
136 | 6/20/2015 | 43064747.28 | 973,018.85 | 62753.82 | 1.71 | 1035772.66 |
137 | 7/20/2015 | 42112232.56 | 952,514.71 | 61367.26 | 1.71 | 1013881.98 |
138 | 8/20/2015 | 41179803.13 | 932,429.44 | 60009.93 | 1.71 | 992439.37 |
139 | 9/20/2015 | 40267048.49 | 912,754.64 | 58681.22 | 1.71 | 971435.86 |
140 | 10/20/2015 | 39373566.37 | 893,482.12 | 57380.54 | 1.71 | 950862.67 |
141 | 11/20/2015 | 38498962.53 | 874,603.83 | 56107.33 | 1.71 | 930711.16 |
142 | 12/20/2015 | 37642850.65 | 856,111.88 | 54861.02 | 1.71 | 910972.9 |
143 | 1/20/2016 | 36804852.11 | 837,998.54 | 53641.06 | 1.71 | 891639.61 |
144 | 2/20/2016 | 35984595.87 | 820,256.24 | 52446.91 | 1.71 | 872703.15 |
145 | 3/20/2016 | 35181718.34 | 802,877.53 | 51278.05 | 1.71 | 854155.58 |
146 | 4/20/2016 | 34395863.21 | 785,855.13 | 50133.95 | 1.71 | 835989.08 |
147 | 5/20/2016 | 33626681.3 | 769,181.91 | 49014.11 | 1.71 | 818196.02 |
148 | 6/20/2016 | 32873830.43 | 752,850.87 | 47918.02 | 1.71 | 800768.89 |
149 | 7/20/2016 | 32136975.3 | 736,855.13 | 46845.21 | 1.71 | 783700.34 |
150 | 8/20/2016 | 31415787.32 | 721,187.98 | 45795.19 | 1.71 | 766983.17 |
151 | 9/20/2016 | 30709944.49 | 705,842.83 | 44767.5 | 1.71 | 750610.32 |
152 | 10/20/2016 | 30019131.29 | 690,813.20 | 43761.67 | 1.71 | 734574.87 |
153 | 11/20/2016 | 29343038.53 | 676,092.76 | 42777.26 | 1.71 | 718870.02 |
154 | 12/20/2016 | 28681363.23 | 661,675.30 | 41813.83 | 1.71 | 703489.13 |
155 | 1/20/2017 | 28033808.49 | 647,554.74 | 40870.94 | 1.71 | 688425.68 |
156 | 2/20/2017 | 27400083.4 | 633,725.09 | 39948.18 | 1.71 | 673673.27 |
157 | 3/20/2017 | 26779902.88 | 620,180.52 | 39045.12 | 1.71 | 659225.64 |
158 | 4/20/2017 | 26172987.59 | 606,915.29 | 38161.36 | 1.71 | 645076.65 |
159 | 5/20/2017 | 25579063.82 | 593,923.77 | 37296.51 | 1.71 | 631220.28 |
160 | 6/20/2017 | 24997863.36 | 581,200.46 | 36450.17 | 1.71 | 617650.63 |
161 | 7/20/2017 | 24429123.41 | 568,739.95 | 35621.96 | 1.71 | 604361.91 |
162 | 8/20/2017 | 23872586.45 | 556,536.96 | 34811.5 | 1.71 | 591348.46 |
163 | 9/20/2017 | 23328000.17 | 544,586.28 | 34018.44 | 1.71 | 578604.72 |
164 | 10/20/2017 | 22795117.33 | 532,882.84 | 33242.4 | 1.71 | 566125.24 |
165 | 11/20/2017 | 22273695.68 | 521,421.64 | 32483.04 | 1.71 | 553904.69 |
166 | 12/20/2017 | 21763497.88 | 510,197.81 | 31740.02 | 1.71 | 541937.82 |
167 | 1/20/2018 | 21264291.34 | 499,206.54 | 31012.98 | 1.71 | 530219.52 |
168 | 2/20/2018 | 20775848.19 | 488,443.15 | 30301.62 | 1.71 | 518744.76 |
169 | 3/20/2018 | 20297945.17 | 477,903.02 | 29605.58 | 1.71 | 507508.6 |
170 | 4/20/2018 | 19830363.52 | 467,581.65 | 28924.57 | 1.71 | 496506.23 |
171 | 5/20/2018 | 19372888.89 | 457,474.62 | 28258.27 | 1.71 | 485732.89 |
172 | 6/20/2018 | 18925311.3 | 447,577.60 | 27606.37 | 1.71 | 475183.96 |
173 | 7/20/2018 | 18487424.98 | 437,886.32 | 26968.57 | 1.71 | 464854.89 |
174 | 43332 | 18059028.34 | 428,396.64 | 26344.58 | 1.71 | 454741.22 |
175 | 9/20/2018 | 17,639,923.88 | 419,104.46 | 25734.12 | 1.71 | 44483857.00% |
176 | 10/20/2018 | 17,229,918.09 | 410,005.79 | 25136.89 | 1.71 | 43514268.00% |
177 | 11/20/2018 | 16,828,821.38 | 401,096.71 | 24552.63 | 1.71 | 42564934.00% |
178 | 12/20/2018 | 16,436,448.01 | 392,373.37 | 23981.07 | 1.71 | 41635444.00% |
179 | 1/20/2019 | 16,052,616.00 | 383,832.01 | 23421.94 | 1.71 | 40725395.00% |
180 | 2/20/2019 | 15,677,147.06 | 375,468.94 | 22874.98 | 1.71 | 39834392.00% |
181 | 3/20/2019 | 15,309,866.52 | 367,280.53 | 22339.93 | 1.71 | 38962047.00% |
182 | 4/20/2019 | 14,950,603.28 | 359,263.25 | 21816.56 | 1.71 | 38107981.00% |
183 | 5/20/2019 | 14,599,189.67 | 351,413.61 | 21304.61 | 1.71 | 37271822.00% |
184 | 6/20/2019 | 14,255,461.46 | 343,728.21 | 20803.85 | 1.71 | 36453206.00% |
185 | 7/20/2019 | 13,919,257.75 | 336,203.71 | 20314.03 | 1.71 | 35651774.00% |
186 | 8/20/2019 | 13,590,420.91 | 328,836.84 | 19834.94 | 1.71 | 34867178.00% |
187 | 9/20/2019 | 13,268,796.51 | 321,624.39 | 19366.35 | 1.71 | 34099074.00% |
188 | 10/20/2019 | 12,954,233.29 | 314,563.22 | 18908.04 | 1.71 | 33347125.00% |
189 | 11/20/2019 | 12,646,583.05 | 307,650.25 | 18459.78 | 1.71 | 32611003.00% |
190 | 12/20/2019 | 12,345,700.60 | 300,882.45 | 18021.38 | 1.71 | 31890383.00% |
191 | 1/20/2020 | 12,051,443.72 | 294,256.88 | 17592.62 | 1.71 | 31184950.00% |
192 | 2/20/2020 | 11,763,673.10 | 287,770.62 | 17173.31 | 1.71 | 30494393.00% |
193 | 3/20/2020 | 11,482,252.25 | 281,420.85 | 16763.23 | 1.71 | 29818408.00% |
194 | 4/20/2020 | 11,207,047.48 | 275,204.77 | 16362.21 | 1.71 | 29156698.00% |
195 | 5/20/2020 | 10,937,927.84 | 269,119.65 | 15970.04 | 1.71 | 28508969.00% |
196 | 6/20/2020 | 10,674,765.02 | 263,162.82 | 15586.55 | 1.71 | 27874937.00% |
197 | 7/20/2020 | 10,417,433.36 | 257,331.66 | 15211.54 | 1.71 | 27254320.00% |
198 | 8/20/2020 | 10,165,809.77 | 251,623.59 | 14844.84 | 1.71 | 26646843.00% |
199 | 9/20/2020 | 9,919,773.66 | 246,036.11 | 14486.28 | 1.71 | 26052239.00% |
200 | 10/20/2020 | 9,679,206.92 | 240,566.74 | 14135.68 | 1.71 | 25470242.00% |
201 | 11/20/2020 | 9,443,993.85 | 235,213.07 | 13792.87 | 1.71 | 24900594.00% |
202 | 12/20/2020 | 9,214,021.14 | 229,972.72 | 13457.69 | 1.71 | 24343041.00% |
203 | 1/20/2021 | 8,989,177.76 | 224,843.37 | 13129.98 | 1.71 | 23797335.00% |
204 | 2/20/2021 | 8,769,355.01 | 219,822.76 | 12809.58 | 1.71 | 23263233.00% |
205 | 3/20/2021 | 8,554,446.37 | 214,908.64 | 12496.33 | 1.71 | 22740497.00% |
206 | 4/20/2021 | 8,344,347.54 | 210,098.83 | 12190.09 | 1.71 | 22228892.00% |
207 | 5/20/2021 | 8,138,956.34 | 205,391.20 | 11890.7 | 1.71 | 21728189.00% |
208 | 6/20/2021 | 7,938,172.70 | 200,783.64 | 11598.01 | 1.71 | 21238165.00% |
209 | 7/20/2021 | 7,741,898.61 | 196,274.09 | 11311.9 | 1.71 | 20758599.00% |
210 | 8/20/2021 | 7,550,038.06 | 191,860.55 | 11032.21 | 1.71 | 20289276.00% |
211 | 9/20/2021 | 7,362,497.02 | 187,541.03 | 10758.8 | 1.71 | 19829984.00% |
212 | 10/20/2021 | 7,179,183.41 | 183,313.61 | 10491.56 | 1.71 | 19380517.00% |
213 | 11/20/2021 | 7,000,007.03 | 179,176.38 | 10230.34 | 1.71 | 18940672.00% |
214 | 12/20/2021 | 6,824,879.54 | 175,127.49 | 9975.01 | 1.71 | 18510250.00% |
215 | 1/20/2022 | 6,653,714.43 | 171,165.11 | 9725.45 | 1.71 | 18089057.00% |
216 | 2/20/2022 | 6,486,426.96 | 167,287.47 | 9481.54 | 1.71 | 17676902.00% |
217 | 3/20/2022 | 6,322,934.14 | 163,492.82 | 9243.16 | 1.71 | 17273597.00% |
218 | 4/20/2022 | 6,163,154.71 | 159,779.43 | 9010.18 | 1.71 | 16878961.00% |
219 | 5/20/2022 | 6,007,009.07 | 156,145.64 | 8782.5 | 1.71 | 16492813.00% |
220 | 6/20/2022 | 5,854,419.28 | 152,589.80 | 8559.99 | 1.71 | 16114978.00% |
221 | 7/20/2022 | 5,705,308.98 | 149,110.29 | 8342.55 | 1.71 | 15745284.00% |
222 | 8/20/2022 | 5,559,603.44 | 145,705.54 | 8130.07 | 1.71 | 15383561.00% |
223 | 9/20/2022 | 5,417,229.43 | 142,374.01 | 7922.43 | 1.71 | 15029644.00% |
224 | 10/20/2022 | 5,278,115.26 | 139,114.17 | 7719.55 | 1.71 | 14683372.00% |
225 | 11/20/2022 | 5,142,190.72 | 135,924.54 | 7521.31 | 1.71 | 14344585.00% |
226 | 12/20/2022 | 5,009,387.06 | 132,803.66 | 7327.62 | 1.71 | 14013128.00% |
227 | 1/20/2023 | 4,879,636.95 | 129,750.11 | 7138.38 | 1.71 | 13688849.00% |
228 | 2/20/2023 | 4,752,874.45 | 126,762.50 | 6953.48 | 1.71 | 13371598.00% |
229 | 3/20/2023 | 4,629,035.01 | 123,839.44 | 6772.85 | 1.71 | 13061229.00% |
230 | 4/20/2023 | 4,508,055.40 | 120,979.61 | 6596.37 | 1.71 | 12757599.00% |
231 | 5/20/2023 | 4,389,873.71 | 118,181.69 | 6423.98 | 1.71 | 12460566.00% |
232 | 6/20/2023 | 4,274,429.33 | 115,444.38 | 6255.57 | 1.71 | 12169995.00% |
233 | 7/20/2023 | 4,161,662.90 | 112,766.43 | 6091.06 | 1.71 | 11885749.00% |
234 | 8/20/2023 | 4,051,516.29 | 110,146.61 | 5930.37 | 1.71 | 11607698.00% |
235 | 9/20/2023 | 3,943,932.60 | 107,583.69 | 5773.41 | 1.71 | 11335710.00% |
236 | 10/20/2023 | 3,838,856.10 | 105,076.50 | 5620.1 | 1.71 | 11069661.00% |
237 | 11/20/2023 | 3,736,232.22 | 102,623.88 | 5470.37 | 1.71 | 10809425.00% |
238 | 12/20/2023 | 3,636,007.55 | 100,224.67 | 5324.13 | 1.71 | 10554880.00% |
239 | 1/20/2024 | 3,538,129.77 | 97,877.78 | 5181.31 | 1.71 | 10305909.00% |
240 | 2/20/2024 | 3,442,547.67 | 95,582.10 | 5041.83 | 1.71 | 10062394.00% |
241 | 3/20/2024 | 3,349,211.10 | 93,336.57 | 4905.63 | 1.71 | 9824220.00% |
242 | 4/20/2024 | 3,258,070.97 | 91,140.13 | 4772.63 | 1.71 | 9591275.00% |
243 | 5/20/2024 | 3,169,079.21 | 88,991.76 | 4642.75 | 1.71 | 9363451.00% |
244 | 6/20/2024 | 3,082,188.76 | 86,890.45 | 4515.94 | 1.71 | 9140639.00% |
245 | 7/20/2024 | 2,997,353.55 | 84,835.22 | 4392.12 | 1.71 | 8922734.00% |
246 | 8/20/2024 | 2,914,528.45 | 82,825.09 | 4271.23 | 1.71 | 8709632.00% |
247 | 9/20/2024 | 2,833,669.33 | 80,859.13 | 4153.2 | 1.71 | 8501233.00% |
248 | 10/20/2024 | 2,754,732.93 | 78,936.40 | 4037.98 | 1.71 | 8297438.00% |
249 | 11/20/2024 | 2,677,676.93 | 77,056.00 | 3925.49 | 1.71 | 8098149.00% |
250 | 12/20/2024 | 2,602,459.89 | 75,217.03 | 3815.69 | 1.71 | 7903272.00% |
251 | 1/20/2025 | 2,529,041.26 | 73,418.63 | 3708.51 | 1.71 | 7712714.00% |
252 | 2/20/2025 | 2,457,381.31 | 71,659.95 | 3603.88 | 1.71 | 7526383.00% |
253 | 3/20/2025 | 2,387,441.18 | 69,940.13 | 3501.77 | 1.71 | 7344190.00% |
254 | 4/20/2025 | 2,319,182.81 | 68,258.37 | 3402.1 | 1.71 | 7166048.00% |
255 | 5/20/2025 | 2,252,568.94 | 66,613.87 | 3304.84 | 1.71 | 6991870.00% |
256 | 6/20/2025 | 2,187,563.12 | 65,005.83 | 3209.91 | 1.71 | 6821574.00% |
257 | 7/20/2025 | 2,124,129.63 | 63,433.48 | 3117.28 | 1.71 | 6655076.00% |
258 | 8/20/2025 | 2,062,233.55 | 61,896.08 | 3026.88 | 1.71 | 6492296.00% |
259 | 9/20/2025 | 2,001,840.67 | 60,392.88 | 2938.68 | 1.71 | 6333156.00% |
260 | 10/20/2025 | 1,942,917.51 | 58,923.16 | 2852.62 | 1.71 | 6177578.00% |
261 | 11/20/2025 | 1,885,431.31 | 57,486.21 | 2768.66 | 1.71 | 6025487.00% |
262 | 12/20/2025 | 1,829,349.97 | 56,081.33 | 2686.74 | 1.71 | 5876807.00% |
263 | 1/20/2026 | 1,774,642.12 | 54,707.85 | 2606.82 | 1.71 | 5731468.00% |
264 | 2/20/2026 | 1,721,277.02 | 53,365.10 | 2528.87 | 1.71 | 5589396.00% |
265 | 3/20/2026 | 1,669,224.60 | 52,052.42 | 2452.82 | 1.71 | 5450524.00% |
266 | 4/20/2026 | 1,618,455.41 | 50,769.19 | 2378.65 | 1.71 | 5314783.00% |
267 | 5/20/2026 | 1,568,940.65 | 49,514.76 | 2306.3 | 1.71 | 5182106.00% |
268 | 6/20/2026 | 1,520,652.13 | 48,288.53 | 2235.74 | 1.71 | 5052427.00% |
269 | 7/20/2026 | 1,473,562.23 | 47,089.89 | 2166.93 | 1.71 | 4925682.00% |
270 | 8/20/2026 | 1,427,643.96 | 45,918.27 | 2099.83 | 1.71 | 4801810.00% |
271 | 9/20/2026 | 1,382,870.89 | 44,773.08 | 2034.39 | 1.71 | 4680747.00% |
272 | 10/20/2026 | 1,339,217.13 | 43,653.75 | 1970.59 | 1.71 | 4562435.00% |
273 | 11/20/2026 | 1,296,657.38 | 42,559.75 | 1908.38 | 1.71 | 4446813.00% |
274 | 12/20/2026 | 1,255,166.87 | 41,490.51 | 1847.74 | 1.71 | 4333825.00% |
275 | 1/20/2027 | 1,214,721.34 | 40,445.53 | 1788.61 | 1.71 | 4223414.00% |
276 | 2/20/2027 | 1,175,297.08 | 39,424.26 | 1730.98 | 1.71 | 4115524.00% |
277 | 3/20/2027 | 1,136,870.86 | 38,426.22 | 1674.8 | 1.71 | 4010102.00% |
278 | 4/20/2027 | 1,099,419.97 | 37,450.89 | 1620.04 | 1.71 | 3907093.00% |
279 | 5/20/2027 | 1,062,922.17 | 36,497.80 | 1566.67 | 1.71 | 3806447.00% |
280 | 6/20/2027 | 1,027,355.72 | 35,566.45 | 1514.66 | 1.71 | 3708112.00% |
281 | 7/20/2027 | 992,699.32 | 34,656.40 | 1463.98 | 1.71 | 3612038.00% |
282 | 8/20/2027 | 958,932.15 | 33,767.17 | 1414.6 | 1.71 | 3518177.00% |
283 | 9/20/2027 | 926,033.82 | 32,898.33 | 1366.48 | 1.71 | 3426480.00% |
284 | 10/20/2027 | 893,984.40 | 32,049.42 | 1319.6 | 1.71 | 3336902.00% |
285 | 11/20/2027 | 862,764.38 | 31,220.02 | 1273.93 | 1.71 | 3249395.00% |
286 | 12/20/2027 | 832,354.66 | 30,409.72 | 1229.44 | 1.71 | 3163916.00% |
287 | 1/20/2028 | 802,736.58 | 29,618.09 | 1186.11 | 1.71 | 3080419.00% |
288 | 2/20/2028 | 773,891.85 | 28,844.73 | 1143.9 | 1.71 | 2998863.00% |
289 | 3/20/2028 | 745,802.60 | 28,089.25 | 1102.8 | 1.71 | 2919205.00% |
290 | 4/20/2028 | 718,451.33 | 27,351.26 | 1062.77 | 1.71 | 2841403.00% |
291 | 5/20/2028 | 691,820.95 | 26,630.38 | 1023.79 | 1.71 | 2765418.00% |
292 | 6/20/2028 | 665,894.70 | 25,926.25 | 985.84 | 1.71 | 2691209.00% |
293 | 7/20/2028 | 640,656.21 | 25,238.49 | 948.9 | 1.71 | 2618739.00% |
294 | 8/20/2028 | 616,089.47 | 24,566.75 | 912.94 | 1.71 | 2547968.00% |
295 | 9/20/2028 | 592,178.79 | 23,910.68 | 877.93 | 1.71 | 2478860.00% |
296 | 10/20/2028 | 568,908.85 | 23,269.94 | 843.85 | 1.71 | 2411379.00% |
297 | 11/20/2028 | 546,264.66 | 22,644.20 | 810.7 | 1.71 | 2345489.00% |
298 | 12/20/2028 | 524,231.53 | 22,033.12 | 778.43 | 1.71 | 2281155.00% |
299 | 1/20/2029 | 502,795.13 | 21,436.40 | 747.03 | 1.71 | 2218343.00% |
300 | 2/20/2029 | 483,159.70 | 19,635.43 | 716.48 | 1.71 | 2035192.00% |
301 | 3/20/2029 | 466,807.25 | 16,352.44 | 688.5 | 1.71 | 1704095.00% |
302 | 4/20/2029 | 450,874.44 | 15,932.82 | 665.2 | 1.71 | 1659802.00% |
303 | 5/20/2029 | 435,351.64 | 15,522.80 | 642.5 | 1.71 | 1616530.00% |
304 | 6/20/2029 | 420,229.45 | 15,122.19 | 620.38 | 1.71 | 1574256.00% |
305 | 7/20/2029 | 405,498.67 | 14,730.78 | 598.83 | 1.71 | 1532961.00% |
306 | 8/20/2029 | 391,150.30 | 14,348.37 | 577.84 | 1.71 | 1492621.00% |
307 | 9/20/2029 | 377,175.52 | 13,974.77 | 557.39 | 1.71 | 1453216.00% |
308 | 10/20/2029 | 363,565.73 | 13,609.79 | 537.48 | 1.71 | 1414727.00% |
309 | 11/20/2029 | 350,312.48 | 13,253.25 | 518.08 | 1.71 | 1377133.00% |
310 | 12/20/2029 | 337,407.54 | 12,904.95 | 499.2 | 1.71 | 1340414.00% |
311 | 1/20/2030 | 324,842.81 | 12,564.72 | 480.81 | 1.71 | 1304553.00% |
312 | 2/20/2030 | 312,610.42 | 12,232.39 | 462.9 | 1.71 | 1269529.00% |
313 | 3/20/2030 | 300,702.64 | 11,907.78 | 445.47 | 1.71 | 1235325.00% |
314 | 4/20/2030 | 289,111.91 | 11,590.73 | 428.5 | 1.71 | 1201924.00% |
315 | 5/20/2030 | 277,830.83 | 11,281.08 | 411.98 | 1.71 | 1169306.00% |
316 | 6/20/2030 | 266,852.18 | 10,978.65 | 395.91 | 1.71 | 1137456.00% |
317 | 7/20/2030 | 256,168.88 | 10,683.30 | 380.26 | 1.71 | 1106356.00% |
318 | 8/20/2030 | 245,774.01 | 10,394.87 | 365.04 | 1.71 | 1075991.00% |
319 | 9/20/2030 | 235,660.80 | 10,113.21 | 350.23 | 1.71 | 1046344.00% |
320 | 10/20/2030 | 225,822.63 | 9,838.17 | 335.82 | 1.71 | 1017398.00% |
321 | 11/20/2030 | 216,253.03 | 9,569.60 | 321.8 | 1.71 | 989140.00% |
322 | 12/20/2030 | 206,945.66 | 9,307.37 | 308.16 | 1.71 | 961553.00% |
323 | 1/20/2031 | 197,894.32 | 9,051.34 | 294.9 | 1.71 | 934624.00% |
324 | 2/20/2031 | 189,092.95 | 8,801.37 | 282 | 1.71 | 908337.00% |
325 | 3/20/2031 | 180,535.63 | 8,557.32 | 269.46 | 1.71 | 882678.00% |
326 | 4/20/2031 | 172,216.55 | 8,319.07 | 257.26 | 1.71 | 857634.00% |
327 | 5/20/2031 | 164,130.06 | 8,086.49 | 245.41 | 1.71 | 833190.00% |
328 | 6/20/2031 | 156,270.60 | 7,859.46 | 233.89 | 1.71 | 809335.00% |
329 | 7/20/2031 | 148,632.75 | 7,637.85 | 222.69 | 1.71 | 786053.00% |
330 | 8/20/2031 | 141,211.21 | 7,421.54 | 211.8 | 1.71 | 763334.00% |
331 | 9/20/2031 | 134,000.80 | 7,210.42 | 201.23 | 1.71 | 741164.00% |
332 | 10/20/2031 | 126,996.43 | 7,004.37 | 190.95 | 1.71 | 719532.00% |
333 | 11/20/2031 | 120,193.16 | 6,803.27 | 180.97 | 1.71 | 698424.00% |
334 | 12/20/2031 | 113,586.13 | 6,607.03 | 171.28 | 1.71 | 677831.00% |
335 | 1/20/2032 | 107,170.60 | 6,415.53 | 161.86 | 1.71 | 657739.00% |
336 | 2/20/2032 | 100,941.93 | 6,228.66 | 152.72 | 1.71 | 638138.00% |
337 | 3/20/2032 | 94,895.60 | 6,046.33 | 143.84 | 1.71 | 619018.00% |
338 | 4/20/2032 | 89,027.16 | 5,868.44 | 135.23 | 1.71 | 600366.00% |
339 | 5/20/2032 | 83,332.29 | 5,694.87 | 126.86 | 1.71 | 582173.00% |
340 | 6/20/2032 | 77,806.75 | 5,525.54 | 118.75 | 1.71 | 564429.00% |
341 | 7/20/2032 | 72,446.39 | 5,360.36 | 110.87 | 1.71 | 547123.00% |
342 | 8/20/2032 | 67,247.17 | 5,199.22 | 103.24 | 1.71 | 530246.00% |
343 | 9/20/2032 | 62,205.12 | 5,042.05 | 95.83 | 1.71 | 513788.00% |
344 | 10/20/2032 | 57,316.37 | 4,888.75 | 88.64 | 1.71 | 497739.00% |
345 | 11/20/2032 | 52,577.15 | 4,739.23 | 81.68 | 1.71 | 482090.00% |
346 | 12/20/2032 | 47,983.74 | 4,593.40 | 74.92 | 1.71 | 466833.00% |
347 | 1/20/2033 | 43,532.54 | 4,451.20 | 68.38 | 1.71 | 451958.00% |
348 | 2/20/2033 | 39,220.02 | 4,312.53 | 62.03 | 1.71 | 437456.00% |
349 | 3/20/2033 | 35,042.70 | 4,177.31 | 55.89 | 1.71 | 423320.00% |
350 | 4/20/2033 | 30,997.23 | 4,045.47 | 49.94 | 1.71 | 409541.00% |
351 | 5/20/2033 | 27,080.29 | 3,916.94 | 44.17 | 1.71 | 396111.00% |
352 | 6/20/2033 | 23,288.67 | 3,791.62 | 38.59 | 1.71 | 383021.00% |
353 | 7/20/2033 | 19,619.20 | 3,669.47 | 33.19 | 1.71 | 370265.00% |
354 | 8/20/2033 | 16,068.81 | 3,550.39 | 27.96 | 1.71 | 357835.00% |
355 | 9/20/2033 | 12,634.49 | 3,434.32 | 22.9 | 1.71 | 345722.00% |
356 | 10/20/2033 | 9,313.29 | 3,321.20 | 18 | 1.71 | 333920.00% |
357 | 11/20/2033 | 6,102.34 | 3,210.95 | 13.27 | 1.71 | 322422.00% |
358 | 12/20/2033 | 2,998.82 | 3,103.52 | 8.7 | 1.71 | 311221.00% |
359 | 1/20/2034 | 0.00 | 2,998.82 | 4.27 | 1.71 | 300310.00% |
Total | 671,999,000.00 | 41267667.89 | 713266667.9 |
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 reliable. Morgan Stanley makes no representation or warranty 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 informati on 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 t o the assumptions may have a material impact on any returns detailed. Morgan Stanley 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 the information contained here in. Additional information is available upon request. Morgan Stanley 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior informat ion regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Security A |
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Scenario 20M |
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Avg Life: 4.1999 Total Interest: 41,267,667.89 |
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Per | Date | Balance | Principal | Interest | Coupon | Total |
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| Cash |
0 | 2/25/2004 | 671,999,000.00 | 0 | 0 | -1 | 0 |
1 | 3/20/2004 | 659,102,682.90 | 12,896,317.10 | 671,999.00 | 1.44 | 13,568,316.10 |
2 | 4/20/2004 | 646,443,862.55 | 12,658,820.35 | 790,923.22 | 1.44 | 13,449,743.57 |
3 | 5/20/2004 | 634,018,261.61 | 12,425,600.95 | 775,732.64 | 1.44 | 13,201,333.58 |
4 | 6/20/2004 | 621,821,583.35 | 12,196,678.26 | 760,821.91 | 1.44 | 12,957,500.17 |
5 | 7/20/2004 | 609,849,610.23 | 11,971,973.12 | 746,185.90 | 1.44 | 12,718,159.02 |
6 | 8/20/2004 | 598,098,202.39 | 11,751,407.83 | 731,819.53 | 1.44 | 12,483,227.36 |
7 | 9/20/2004 | 586,563,296.27 | 11,534,906.12 | 717,717.84 | 1.44 | 12,252,623.96 |
8 | 10/20/2004 | 575,240,903.15 | 11,322,393.12 | 703,875.96 | 1.44 | 12,026,269.08 |
9 | 11/20/2004 | 564,127,107.80 | 11,113,795.35 | 690,289.08 | 1.44 | 11,804,084.44 |
10 | 12/20/2004 | 553,218,067.12 | 10,909,040.67 | 676,952.53 | 1.44 | 11,585,993.20 |
11 | 1/20/2005 | 542,510,008.83 | 10,708,058.29 | 663,861.68 | 1.44 | 11,371,919.97 |
12 | 2/20/2005 | 531,999,230.13 | 10,510,778.70 | 651,012.01 | 1.44 | 11,161,790.71 |
13 | 3/20/2005 | 521,682,096.45 | 10,317,133.68 | 638,399.08 | 1.44 | 10,955,532.76 |
14 | 4/20/2005 | 511,555,040.18 | 10,127,056.28 | 626,018.52 | 1.44 | 10,753,074.79 |
15 | 5/20/2005 | 501,614,559.42 | 9,940,480.76 | 613,866.05 | 1.44 | 10,554,346.81 |
16 | 6/20/2005 | 491,857,216.81 | 9,757,342.61 | 601,937.47 | 1.44 | 10,359,280.08 |
17 | 7/20/2005 | 482,279,638.31 | 9,577,578.50 | 590,228.66 | 1.44 | 10,167,807.16 |
18 | 8/20/2005 | 472,878,512.05 | 9,401,126.27 | 578,735.57 | 1.44 | 9,979,861.83 |
19 | 9/20/2005 | 463,650,587.15 | 9,227,924.90 | 567,454.21 | 1.44 | 9,795,379.11 |
20 | 10/20/2005 | 454,592,672.65 | 9,057,914.50 | 556,380.70 | 1.44 | 9,614,295.20 |
21 | 11/20/2005 | 445,701,636.37 | 8,891,036.28 | 545,511.21 | 1.44 | 9,436,547.49 |
22 | 12/20/2005 | 436,974,403.83 | 8,727,232.54 | 534,841.96 | 1.44 | 9,262,074.50 |
23 | 1/20/2006 | 428,407,957.20 | 8,566,446.63 | 524,369.28 | 1.44 | 9,090,815.92 |
24 | 2/20/2006 | 419,999,334.24 | 8,408,622.96 | 514,089.55 | 1.44 | 8,922,712.51 |
25 | 3/20/2006 | 411,745,627.30 | 8,253,706.94 | 503,999.20 | 1.44 | 8,757,706.15 |
26 | 4/20/2006 | 403,643,982.28 | 8,101,645.02 | 494,094.75 | 1.44 | 8,595,739.77 |
27 | 5/20/2006 | 395,691,597.67 | 7,952,384.61 | 484,372.78 | 1.44 | 8,436,757.38 |
28 | 6/20/2006 | 387,885,723.58 | 7,805,874.09 | 474,829.92 | 1.44 | 8,280,704.00 |
29 | 7/20/2006 | 380,223,660.79 | 7,662,062.80 | 465,462.87 | 1.44 | 8,127,525.67 |
30 | 8/20/2006 | 372,702,759.77 | 7,520,901.01 | 456,268.39 | 1.44 | 7,977,169.41 |
31 | 9/20/2006 | 365,320,419.86 | 7,382,339.92 | 447,243.31 | 1.44 | 7,829,583.23 |
32 | 10/20/2006 | 358,074,088.26 | 7,246,331.60 | 438,384.50 | 1.44 | 7,684,716.10 |
33 | 11/20/2006 | 350,961,259.23 | 7,112,829.03 | 429,688.91 | 1.44 | 7,542,517.93 |
34 | 12/20/2006 | 343,979,473.20 | 6,981,786.03 | 421,153.51 | 1.44 | 7,402,939.54 |
35 | 1/20/2007 | 337,126,315.89 | 6,853,157.31 | 412,775.37 | 1.44 | 7,265,932.67 |
36 | 2/20/2007 | 330,399,417.53 | 6,726,898.37 | 404,551.58 | 1.44 | 7,131,449.95 |
37 | 3/20/2007 | 323,796,451.97 | 6,602,965.56 | 396,479.30 | 1.44 | 6,999,444.86 |
38 | 4/20/2007 | 317,315,135.95 | 6,481,316.02 | 388,555.74 | 1.44 | 6,869,871.76 |
39 | 5/20/2007 | 311,469,090.03 | 5,846,045.93 | 380,778.16 | 1.44 | 6,226,824.09 |
40 | 6/20/2007 | 305,730,748.55 | 5,738,341.48 | 373,762.91 | 1.44 | 6,112,104.38 |
41 | 7/20/2007 | 300,098,127.24 | 5,632,621.31 | 366,876.90 | 1.44 | 5,999,498.21 |
42 | 8/20/2007 | 294,569,278.36 | 5,528,848.88 | 360,117.75 | 1.44 | 5,888,966.63 |
43 | 9/20/2007 | 289,142,290.06 | 5,426,988.30 | 353,483.13 | 1.44 | 5,780,471.43 |
44 | 10/20/2007 | 283,815,285.71 | 5,327,004.34 | 346,970.75 | 1.44 | 5,673,975.09 |
45 | 11/20/2007 | 278,586,423.28 | 5,228,862.44 | 340,578.34 | 1.44 | 5,569,440.78 |
46 | 12/20/2007 | 273,453,894.63 | 5,132,528.65 | 334,303.71 | 1.44 | 5,466,832.35 |
47 | 1/20/2008 | 268,415,924.97 | 5,037,969.66 | 328,144.67 | 1.44 | 5,366,114.33 |
48 | 2/20/2008 | 263,470,772.20 | 4,945,152.78 | 322,099.11 | 1.44 | 5,267,251.89 |
49 | 3/20/2008 | 258,616,726.29 | 4,854,045.90 | 316,164.93 | 1.44 | 5,170,210.83 |
50 | 4/20/2008 | 253,852,108.76 | 4,764,617.53 | 310,340.07 | 1.44 | 5,074,957.60 |
51 | 5/20/2008 | 249,175,272.02 | 4,676,836.74 | 304,622.53 | 1.44 | 4,981,459.27 |
52 | 6/20/2008 | 244,584,598.84 | 4,590,673.18 | 299,010.33 | 1.44 | 4,889,683.51 |
53 | 7/20/2008 | 240,078,501.79 | 4,506,097.05 | 293,501.52 | 1.44 | 4,799,598.57 |
54 | 8/20/2008 | 235,655,422.69 | 4,423,079.11 | 288,094.20 | 1.44 | 4,711,173.31 |
55 | 9/20/2008 | 231,313,832.05 | 4,341,590.64 | 282,786.51 | 1.44 | 4,624,377.15 |
56 | 10/20/2008 | 227,052,228.57 | 4,261,603.47 | 277,576.60 | 1.44 | 4,539,180.07 |
57 | 11/20/2008 | 222,869,138.62 | 4,183,089.95 | 272,462.67 | 1.44 | 4,455,552.62 |
58 | 12/20/2008 | 218,763,115.70 | 4,106,022.92 | 267,442.97 | 1.44 | 4,373,465.88 |
59 | 1/20/2009 | 214,732,739.98 | 4,030,375.73 | 262,515.74 | 1.44 | 4,292,891.47 |
60 | 2/20/2009 | 210,423,287.23 | 4,309,452.75 | 257,679.29 | 1.44 | 4,567,132.04 |
61 | 3/20/2009 | 206,198,842.36 | 4,224,444.87 | 252,507.94 | 1.44 | 4,476,952.81 |
62 | 4/20/2009 | 202,057,750.07 | 4,141,092.29 | 247,438.61 | 1.44 | 4,388,530.90 |
63 | 5/20/2009 | 197,998,386.96 | 4,059,363.10 | 242,469.30 | 1.44 | 4,301,832.40 |
64 | 6/20/2009 | 194,019,160.96 | 3,979,226.00 | 237,598.06 | 1.44 | 4,216,824.07 |
65 | 7/20/2009 | 190,118,510.68 | 3,900,650.29 | 232,822.99 | 1.44 | 4,133,473.28 |
66 | 8/20/2009 | 186,294,904.84 | 3,823,605.84 | 228,142.21 | 1.44 | 4,051,748.05 |
67 | 9/20/2009 | 182,546,841.72 | 3,748,063.12 | 223,553.89 | 1.44 | 3,971,617.00 |
68 | 10/20/2009 | 178,872,848.57 | 3,673,993.15 | 219,056.21 | 1.44 | 3,893,049.36 |
69 | 11/20/2009 | 175,271,481.06 | 3,601,367.52 | 214,647.42 | 1.44 | 3,816,014.93 |
70 | 12/20/2009 | 171,741,322.72 | 3,530,158.34 | 210,325.78 | 1.44 | 3,740,484.12 |
71 | 1/20/2010 | 168,280,984.44 | 3,460,338.28 | 206,089.59 | 1.44 | 3,666,427.87 |
72 | 2/20/2010 | 164,889,103.92 | 3,391,880.52 | 201,937.18 | 1.44 | 3,593,817.70 |
73 | 3/20/2010 | 161,564,345.17 | 3,324,758.75 | 197,866.92 | 1.44 | 3,522,625.67 |
74 | 4/20/2010 | 158,305,398.01 | 3,258,947.17 | 193,877.21 | 1.44 | 3,452,824.38 |
75 | 5/20/2010 | 155,110,977.54 | 3,194,420.47 | 189,966.48 | 1.44 | 3,384,386.95 |
76 | 6/20/2010 | 151,979,823.70 | 3,131,153.84 | 186,133.17 | 1.44 | 3,317,287.01 |
77 | 7/20/2010 | 148,910,700.78 | 3,069,122.92 | 182,375.79 | 1.44 | 3,251,498.70 |
78 | 8/20/2010 | 145,902,396.95 | 3,008,303.83 | 178,692.84 | 1.44 | 3,186,996.67 |
79 | 9/20/2010 | 142,953,723.79 | 2,948,673.16 | 175,082.88 | 1.44 | 3,123,756.03 |
80 | 10/20/2010 | 140,063,515.87 | 2,890,207.92 | 171,544.47 | 1.44 | 3,061,752.39 |
81 | 11/20/2010 | 137,230,630.28 | 2,832,885.60 | 168,076.22 | 1.44 | 3,000,961.81 |
82 | 12/20/2010 | 134,453,946.20 | 2,776,684.07 | 164,676.76 | 1.44 | 2,941,360.83 |
83 | 1/20/2011 | 131,732,364.53 | 2,721,581.67 | 161,344.74 | 1.44 | 2,882,926.41 |
84 | 2/20/2011 | 129,064,807.39 | 2,667,557.14 | 158,078.84 | 1.44 | 2,825,635.98 |
85 | 3/20/2011 | 126,450,217.77 | 2,614,589.62 | 154,877.77 | 1.44 | 2,769,467.39 |
86 | 4/20/2011 | 123,887,559.11 | 2,562,658.66 | 151,740.26 | 1.44 | 2,714,398.92 |
87 | 5/20/2011 | 121,375,814.91 | 2,511,744.19 | 148,665.07 | 1.44 | 2,660,409.26 |
88 | 6/20/2011 | 118,913,988.37 | 2,461,826.55 | 145,650.98 | 1.44 | 2,607,477.52 |
89 | 7/20/2011 | 116,501,101.94 | 2,412,886.42 | 142,696.79 | 1.44 | 2,555,583.21 |
90 | 8/20/2011 | 114,136,197.06 | 2,364,904.89 | 139,801.32 | 1.44 | 2,504,706.21 |
91 | 9/20/2011 | 111,818,333.67 | 2,317,863.38 | 136,963.44 | 1.44 | 2,454,826.82 |
92 | 10/20/2011 | 109,546,589.98 | 2,271,743.69 | 134,182.00 | 1.44 | 2,405,925.69 |
93 | 11/20/2011 | 107,320,062.01 | 2,226,527.97 | 131,455.91 | 1.44 | 2,357,983.87 |
94 | 12/20/2011 | 105,137,863.34 | 2,182,198.68 | 128,784.07 | 1.44 | 2,310,982.75 |
95 | 1/20/2012 | 102,999,124.68 | 2,138,738.66 | 126,165.44 | 1.44 | 2,264,904.09 |
96 | 2/20/2012 | 100,902,993.63 | 2,096,131.05 | 123,598.95 | 1.44 | 2,219,730.00 |
97 | 3/20/2012 | 98,848,634.31 | 2,054,359.32 | 121,083.59 | 1.44 | 2,175,442.92 |
98 | 4/20/2012 | 96,835,227.03 | 2,013,407.28 | 118,618.36 | 1.44 | 2,132,025.64 |
99 | 5/20/2012 | 94,861,968.01 | 1,973,259.02 | 116,202.27 | 1.44 | 2,089,461.29 |
100 | 6/20/2012 | 92,928,069.07 | 1,933,898.94 | 113,834.36 | 1.44 | 2,047,733.30 |
101 | 7/20/2012 | 91,032,757.30 | 1,895,311.77 | 111,513.68 | 1.44 | 2,006,825.45 |
102 | 8/20/2012 | 89,175,274.81 | 1,857,482.49 | 109,239.31 | 1.44 | 1,966,721.80 |
103 | 9/20/2012 | 87,354,878.41 | 1,820,396.40 | 107,010.33 | 1.44 | 1,927,406.73 |
104 | 10/20/2012 | 85,570,839.33 | 1,784,039.08 | 104,825.85 | 1.44 | 1,888,864.94 |
105 | 11/20/2012 | 83,822,442.96 | 1,748,396.37 | 102,685.01 | 1.44 | 1,851,081.38 |
106 | 12/20/2012 | 82,108,988.56 | 1,713,454.40 | 100,586.93 | 1.44 | 1,814,041.33 |
107 | 1/20/2013 | 80,429,789.00 | 1,679,199.55 | 98,530.79 | 1.44 | 1,777,730.34 |
108 | 2/20/2013 | 78,784,170.51 | 1,645,618.49 | 96,515.75 | 1.44 | 1,742,134.23 |
109 | 3/20/2013 | 77,171,472.41 | 1,612,698.11 | 94,541.00 | 1.44 | 1,707,239.11 |
110 | 4/20/2013 | 75,591,046.83 | 1,580,425.58 | 92,605.77 | 1.44 | 1,673,031.34 |
111 | 5/20/2013 | 74,042,258.53 | 1,548,788.30 | 90,709.26 | 1.44 | 1,639,497.55 |
112 | 6/20/2013 | 72,524,484.61 | 1,517,773.93 | 88,850.71 | 1.44 | 1,606,624.64 |
113 | 7/20/2013 | 71,037,114.26 | 1,487,370.35 | 87,029.38 | 1.44 | 1,574,399.73 |
114 | 8/20/2013 | 69,579,548.57 | 1,457,565.68 | 85,244.54 | 1.44 | 1,542,810.22 |
115 | 9/20/2013 | 68,151,200.29 | 1,428,348.29 | 83,495.46 | 1.44 | 1,511,843.74 |
116 | 10/20/2013 | 66,751,493.56 | 1,399,706.72 | 81,781.44 | 1.44 | 1,481,488.17 |
117 | 11/20/2013 | 65,379,863.76 | 1,371,629.80 | 80,101.79 | 1.44 | 1,451,731.59 |
118 | 12/20/2013 | - | 65,379,863.76 | 78,455.84 | 1.44 | 65,458,319.60 |
Total | 671,999,000.00 | 37,302,545.39 | 709,301,545.39 |
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 reliable. Morgan Stanley makes no representation or warranty 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 informati on 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 t o the assumptions may have a material impact on any returns detailed. Morgan Stanley 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 the information contained here in. Additional information is available upon request. Morgan Stanley 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior informat ion regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
Security X1 |
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Scenario 20C |
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Avg Life: 1.7702 Total Interest: 9,591,345.40 |
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Per | Date | Balance | Principal | Interest | Coupon | Total | ||||||||||
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0 | 2/1/2004 | 671,999,000.00 | 0 | 0 | -1 | 0 | &nb sp; | |||||||||
1 | 3/20/2004 | 647,315,818.00 | - | 447,999.33 | 0.8 | 447,999.33 | &nb sp; | |||||||||
2 | 4/20/2004 | 623,502,914.54 | - | 431,543.88 | 0.8 | 431,543.88 | ||||||||||
3 | 5/20/2004 | 600,529,698.44 | - | 415,668.61 | 0.8 | 415,668.61 | &nb sp; | |||||||||
7 | 9/20/2004 | 516,456,970.31 | - | 357,571.51 | 0.8 | 357,571.51 | &nb sp; | |||||||||
8 | 10/20/2004 | 497,258,393.76 | - | 344,304.65 | 0.8 | 344,304.65 | &nb sp; | |||||||||
9 | 11/20/2004 | 478,736,794.82 | - | 331,505.60 | 0.8 | 331,505.60 | &nb sp; | |||||||||
10 | 12/20/2004 | 460,868,301.98 | - | 319,157.86 | 0.8 | 319,157.86 | &nb sp; | |||||||||
11 | 1/20/2005 | 443,629,885.51 | - | 307,245.53 | 0.8 | 307,245.53 | &nb sp; | |||||||||
12 | 2/20/2005 | 426,999,327.73 | - | 295,753.26 | 0.8 | 295,753.26 | &nb sp; | |||||||||
13 | 3/20/2005 | 410,955,194.43 | - | 284,666.22 | 0.8 | 284,666.22 | &nb sp; | |||||||||
14 | 4/20/2005 | 395,476,807.18 | - | 273,970.13 | 0.8 | 273,970.13 | &nb sp; | |||||||||
15 | 5/20/2005 | 380,544,216.72 | - | 263,651.20 | 0.8 | 263,651.20 | &nb sp; | |||||||||
16 | 6/20/2005 | 366,138,177.24 | - | 253,696.14 | 0.8 | 253,696.14 | &nb sp; | |||||||||
17 | 7/20/2005 | 352,240,121.56 | - | 244,092.12 | 0.8 | 244,092.12 | &nb sp; | |||||||||
18 | 8/20/2005 | 338,832,137.24 | - | 234,826.75 | 0.8 | 234,826.75 | &nb sp; | |||||||||
19 | 9/20/2005 | 325,896,943.43 | - | 225,888.09 | 0.8 | 225,888.09 | &nb sp; | |||||||||
20 | 10/20/2005 | 313,417,868.68 | - | 217,264.63 | 0.8 | 217,264.63 | &nb sp; | |||||||||
21 | 11/20/2005 | 301,872,499.86 | - | 208,945.25 | 0.8 | 208,945.25 | &nb sp; | |||||||||
22 | 12/20/2005 | 290,742,946.14 | - | 201,248.33 | 0.8 | 201,248.33 | &nb sp; | |||||||||
23 | 1/20/2006 | 280,014,391.64 | - | 193,828.63 | 0.8 | 193,828.63 | &nb sp; | |||||||||
24 | 2/20/2006 | 269,672,545.64 | - | 186,676.26 | 0.8 | 186,676.26 | &nb sp; | |||||||||
25 | 3/20/2006 | 259,703,623.97 | - | 179,781.70 | 0.8 | 179,781.70 | &nb sp; | |||||||||
26 | 4/20/2006 | 250,094,331.16 | - | 173,135.75 | 0.8 | 173,135.75 | &nb sp; | |||||||||
27 | 5/20/2006 | 240,831,843.08 | - | 166,729.55 | 0.8 | 166,729.55 | &nb sp; | |||||||||
28 | 6/20/2006 | 231,903,790.38 | - | 160,554.56 | 0.8 | 160,554.56 | &nb sp; | |||||||||
29 | 7/20/2006 | 223,298,242.30 | - | 154,602.53 | 0.8 | 154,602.53 | &nb sp; | |||||||||
30 | 8/20/2006 | 215,003,691.25 | - | 148,865.49 | 0.8 | 148,865.49 | &nb sp; | |||||||||
31 | 9/20/2006 | 207,009,037.78 | - | 143,335.79 | 0.8 | 143,335.79 | &nb sp; | |||||||||
32 | 10/20/2006 | 199,303,576.19 | - | 138,006.03 | 0.8 | 138,006.03 | &nb sp; | |||||||||
33 | 11/20/2006 | 191,876,980.60 | - | 132,869.05 | 0.8 | 132,869.05 | &nb sp; | |||||||||
34 | 12/20/2006 | 184,719,291.47 | - | 127,917.99 | 0.8 | 127,917.99 | &nb sp; | |||||||||
35 | 1/20/2007 | 177,820,902.70 | - | 123,146.19 | 0.8 | 123,146.19 | &nb sp; | |||||||||
36 | 2/20/2007 | 171,172,549.11 | - | 118,547.27 | 0.8 | 118,547.27 | &nb sp; | |||||||||
37 | 3/20/2007 | 165,136,685.93 | - | 114,115.03 | 0.8 | 114,115.03 | &nb sp; | |||||||||
38 | 4/20/2007 | 159,313,658.53 | - | 110,091.12 | 0.8 | 110,091.12 | &nb sp; | |||||||||
39 | 5/20/2007 | 153,695,961.94 | - | 106,209.11 | 0.8 | 106,209.11 | &nb sp; | |||||||||
40 | 6/20/2007 | 148,276,355.80 | - | 102,463.97 | 0.8 | 102,463.97 | &nb sp; | |||||||||
41 | 7/20/2007 | 143,047,855.08 | - | 98,850.90 | 0.8 | 98,850.90 | &nb sp; | |||||||||
42 | 8/20/2007 | 0.00 | - | 95,365.24 | 0.8 | 95,365.24 | &nb sp; | |||||||||
Total | - | 9,591,345.40 | 9,591,345.40 | &nb sp; |
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 reliable. Morgan Stanley makes no representation or warranty 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 informati on 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 t o the assumptions may have a material impact on any returns detailed. Morgan Stanley 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 the information contained here in. Additional information is available upon request. Morgan Stanley 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. Information contained in this material is current as of the date appearing on this material only. Information in this material regarding any assets backing any securities discussed herein supercedes all prior informat ion regarding such assets. Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction. To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY.
YIELD TABLE
Prepay | CPR15 | CPR20 | CPR25 | CPR30 | CPR35 | CPR36 | CPR50 |
Price/Yield | |||||||
1.30592 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 | 2.19 | -22.84 |