Contract

EXHIBIT 99

MORGAN STANLEY
- ----------------------------------------------------------------------------------------------------------------------------------- 05/29/2003 16:36:51 CARVE Version 835.0 /u/margol/deal/MSDW_2003-IQ4/priced/iq4.fixedpriced.carve MSCI MSCI SERIES 2003-IQ4 PRICED CLASS A1 =================================================================================================================================== Class A1 Settlement Date 06/05/2003 Coupon 3.27000 Cusip N/A Original Balance 178,879,000.00 Dated Date 06/01/2003 Delay 14 Yield Table Date 05/29/2003 Current Balance 178,879,000.00 First Payment Date 07/15/2003 Lead Manager Morgan Stanley & Co. Yield Frequency SemiAnnual Credit Rating AAA/Aaa Next Payment Date 07/15/2003 Orig Deal Size 728,398,609.26 Yield Day Count 30/360 Market Desc N/A Payment Freq Monthly Num of Tranches 24 Factor 1.00000000 Interest Freq Monthly Deal Age 0 TREASURY CURVE 2 1.2795 3 1.5633 5 2.2765 10 3.3535 30 4.3658 SWAP CURVE 2 yr 19.5000 3 yr 30.0000 5 yr 33.7500 7 yr 46.2500 10 yr 36.2500 20 yr 68.2500 30 yr 30.0000 PREPAY CPR 0 (!YM) CPR 25 (!YM) CPR 50 (!YM) CPR 75 (!YM) CPR 100 - ---------------------------------------------------------------------------------------------------------- PRICE / YIELD | - ---------------------------------------------------------------------------------------------------------- 99.8870 | 3.2896 3.2896 3.2896 3.2896 3.2895 99.9495 | 3.2772 3.2772 3.2771 3.2771 3.2770 100.0120 | 3.2648 3.2648 3.2647 3.2647 3.2645 100.0745 | 3.2524 3.2524 3.2523 3.2523 3.2520 100.1370 | 3.2400 3.2400 3.2399 3.2399 3.2395 100.1995 | 3.2277 3.2276 3.2275 3.2275 3.2270 100.2620 | 3.2153 3.2152 3.2152 3.2151 3.2145 100.3245 | 3.2030 3.2029 3.2028 3.2027 3.2020 100.3870 | 3.1907 3.1905 3.1905 3.1904 3.1896 100.4495 | 3.1783 3.1782 3.1781 3.1780 3.1771 100.5120 | 3.1660 3.1659 3.1658 3.1657 3.1647 100.5745 | 3.1537 3.1536 3.1535 3.1533 3.1523 100.6370 | 3.1414 3.1413 3.1412 3.1410 3.1398 100.6995 | 3.1292 3.1290 3.1289 3.1287 3.1274 100.7620 | 3.1169 3.1167 3.1166 3.1164 3.1150 100.8245 | 3.1047 3.1044 3.1043 3.1041 3.1027 100.8870 | 3.0924 3.0922 3.0920 3.0918 3.0903 100.9495 | 3.0802 3.0799 3.0798 3.0795 3.0779 101.0120 | 3.0679 3.0677 3.0675 3.0673 3.0656 101.0745 | 3.0557 3.0555 3.0553 3.0550 3.0532 101.1370 | 3.0435 3.0433 3.0430 3.0428 3.0409 - ---------------------------------------------------------------------------------------------------------- AVERAGE LIFE | 5.70 5.69 5.69 5.68 5.63 FIRST PRIN | 07/15/2003 07/15/2003 07/15/2003 07/15/2003 07/15/2003 LAST PRIN | 10/15/2012 09/15/2012 08/15/2012 08/15/2012 07/15/2012 PAYMENT WINDOW | 112 111 110 110 109 ACCRUAL FACTOR | 0.0363 0.0363 0.0363 0.0363 0.0363 MOD DURATION @ 100.5120 | 5.05 5.05 5.04 5.04 5.00 SPREAD INTERP. @ 100.5120 | 74 74 74 74 75 Page 1 of 5 - -----------------------------------------------------------------------------------------------------------------------------------
MORGAN STANLEY
- ----------------------------------------------------------------------------------------------------------------------------------- 05/29/2003 16:36:51 CARVE Version 835.0 /u/margol/deal/MSDW_2003-IQ4/priced/iq4.fixedpriced.carve MSCI MSCI SERIES 2003-IQ4 PRICED CLASS A2 =================================================================================================================================== Class A2 Settlement Date 06/05/2003 Coupon 4.07000 Cusip N/A Original Balance 449,730,000.00 Dated Date 06/01/2003 Delay 14 Yield Table Date 05/29/2003 Current Balance 449,730,000.00 First Payment Date 07/15/2003 Lead Manager Morgan Stanley & Co. Yield Frequency SemiAnnual Credit Rating AAA/Aaa Next Payment Date 07/15/2003 Orig Deal Size 728,398,609.26 Yield Day Count 30/360 Market Desc N/A Payment Freq Monthly Num of Tranches 24 Factor 1.00000000 Interest Freq Monthly Deal Age 0 TREASURY CURVE 2 1.2795 3 1.5633 5 2.2765 10 3.3535 30 4.3658 SWAP CURVE 2 yr 19.5000 3 yr 30.0000 5 yr 33.7500 7 yr 46.2500 10 yr 36.2500 20 yr 68.2500 30 yr 30.0000 PREPAY CPR 0 (!YM) CPR 25 (!YM) CPR 50 (!YM) CPR 75 (!YM) CPR 100 - ---------------------------------------------------------------------------------------------------------- PRICE / YIELD | - ---------------------------------------------------------------------------------------------------------- 99.9058 | 4.0965 4.0965 4.0965 4.0965 4.0964 99.9683 | 4.0886 4.0886 4.0886 4.0885 4.0883 100.0308 | 4.0807 4.0806 4.0806 4.0806 4.0802 100.0933 | 4.0727 4.0727 4.0727 4.0726 4.0721 100.1558 | 4.0648 4.0648 4.0647 4.0646 4.0640 100.2183 | 4.0569 4.0568 4.0568 4.0567 4.0559 100.2808 | 4.0490 4.0489 4.0489 4.0487 4.0478 100.3433 | 4.0411 4.0410 4.0409 4.0408 4.0398 100.4058 | 4.0332 4.0331 4.0330 4.0329 4.0317 100.4683 | 4.0253 4.0252 4.0251 4.0249 4.0237 100.5308 | 4.0174 4.0173 4.0172 4.0170 4.0156 100.5933 | 4.0095 4.0094 4.0093 4.0091 4.0076 100.6558 | 4.0016 4.0015 4.0014 4.0012 3.9995 100.7183 | 3.9938 3.9936 3.9935 3.9933 3.9915 100.7808 | 3.9859 3.9858 3.9856 3.9854 3.9835 100.8433 | 3.9780 3.9779 3.9777 3.9775 3.9754 100.9058 | 3.9702 3.9700 3.9699 3.9696 3.9674 100.9683 | 3.9623 3.9622 3.9620 3.9617 3.9594 101.0308 | 3.9545 3.9543 3.9541 3.9538 3.9514 101.0933 | 3.9466 3.9465 3.9463 3.9459 3.9434 101.1558 | 3.9388 3.9386 3.9384 3.9381 3.9354 - ---------------------------------------------------------------------------------------------------------- AVERAGE LIFE | 9.69 9.68 9.66 9.64 9.45 FIRST PRIN | 10/15/2012 09/15/2012 08/15/2012 08/15/2012 07/15/2012 LAST PRIN | 05/15/2013 05/15/2013 04/15/2013 04/15/2013 02/15/2013 PAYMENT WINDOW | 8 9 9 9 8 ACCRUAL FACTOR | 0.0452 0.0452 0.0452 0.0452 0.0452 MOD DURATION @ 100.5308 | 7.88 7.87 7.86 7.84 7.72 SPREAD INTERP. @ 100.5308 | 73 73 74 74 78 Page 2 of 5 - -----------------------------------------------------------------------------------------------------------------------------------
MORGAN STANLEY
- ----------------------------------------------------------------------------------------------------------------------------------- 05/29/2003 16:36:51 CARVE Version 835.0 /u/margol/deal/MSDW_2003-IQ4/priced/iq4.fixedpriced.carve MSCI MSCI SERIES 2003-IQ4 PRICED CLASS B =================================================================================================================================== Class B Settlement Date 06/05/2003 Coupon 4.18000 Cusip N/A Original Balance 18,194,000.00 Dated Date 06/01/2003 Delay 14 Yield Table Date 05/29/2003 Current Balance 18,194,000.00 First Payment Date 07/15/2003 Lead Manager Morgan Stanley & Co. Yield Frequency SemiAnnual Credit Rating AA/Aa2 Next Payment Date 07/15/2003 Orig Deal Size 728,398,609.26 Yield Day Count 30/360 Market Desc N/A Payment Freq Monthly Num of Tranches 24 Factor 1.00000000 Interest Freq Monthly Deal Age 0 TREASURY CURVE 2 1.2795 3 1.5633 5 2.2765 10 3.3535 30 4.3658 SWAP CURVE 2 yr 19.5000 3 yr 30.0000 5 yr 33.7500 7 yr 46.2500 10 yr 36.2500 20 yr 68.2500 30 yr 30.0000 PREPAY CPR 0 (!YM) CPR 25 (!YM) CPR 50 (!YM) CPR 75 (!YM) CPR 100 - ---------------------------------------------------------------------------------------------------------- PRICE / YIELD | - ---------------------------------------------------------------------------------------------------------- 99.8476 | 4.2153 4.2153 4.2153 4.2153 4.2153 99.9101 | 4.2075 4.2075 4.2075 4.2075 4.2073 99.9726 | 4.1997 4.1997 4.1997 4.1996 4.1993 100.0351 | 4.1919 4.1919 4.1918 4.1918 4.1914 100.0976 | 4.1841 4.1841 4.1840 4.1839 4.1834 100.1601 | 4.1763 4.1763 4.1762 4.1761 4.1754 100.2226 | 4.1685 4.1685 4.1684 4.1683 4.1675 100.2851 | 4.1607 4.1607 4.1606 4.1604 4.1595 100.3476 | 4.1529 4.1529 4.1528 4.1526 4.1516 100.4101 | 4.1451 4.1451 4.1450 4.1448 4.1436 100.4726 | 4.1374 4.1374 4.1373 4.1370 4.1357 100.5351 | 4.1296 4.1296 4.1295 4.1292 4.1278 100.5976 | 4.1218 4.1218 4.1217 4.1214 4.1199 100.6601 | 4.1141 4.1141 4.1139 4.1136 4.1119 100.7226 | 4.1063 4.1063 4.1062 4.1059 4.1040 100.7851 | 4.0986 4.0986 4.0984 4.0981 4.0961 100.8476 | 4.0909 4.0909 4.0907 4.0903 4.0882 100.9101 | 4.0831 4.0831 4.0829 4.0825 4.0803 100.9726 | 4.0754 4.0754 4.0752 4.0748 4.0725 101.0351 | 4.0677 4.0677 4.0675 4.0670 4.0646 101.0976 | 4.0600 4.0600 4.0598 4.0593 4.0567 - ---------------------------------------------------------------------------------------------------------- AVERAGE LIFE | 9.94 9.94 9.93 9.89 9.69 FIRST PRIN | 05/15/2013 05/15/2013 04/15/2013 04/15/2013 02/15/2013 LAST PRIN | 05/15/2013 05/15/2013 05/15/2013 05/15/2013 02/15/2013 PAYMENT WINDOW | 1 1 2 2 1 ACCRUAL FACTOR | 0.0464 0.0464 0.0464 0.0464 0.0464 MOD DURATION @ 100.4726 | 8.00 8.00 7.99 7.97 7.84 SPREAD INTERP. @ 100.4726 | 80 80 80 81 85 Page 3 of 5 - -----------------------------------------------------------------------------------------------------------------------------------
MORGAN STANLEY
- ----------------------------------------------------------------------------------------------------------------------------------- 05/29/2003 16:36:51 CARVE Version 835.0 /u/margol/deal/MSDW_2003-IQ4/priced/iq4.fixedpriced.carve MSCI MSCI SERIES 2003-IQ4 PRICED CLASS C =================================================================================================================================== Class C Settlement Date 06/05/2003 Coupon 4.27000 Cusip N/A Original Balance 23,652,000.00 Dated Date 06/01/2003 Delay 14 Yield Table Date 05/29/2003 Current Balance 23,652,000.00 First Payment Date 07/15/2003 Lead Manager Morgan Stanley & Co. Yield Frequency SemiAnnual Credit Rating A/A2 Next Payment Date 07/15/2003 Orig Deal Size 728,398,609.26 Yield Day Count 30/360 Market Desc N/A Payment Freq Monthly Num of Tranches 24 Factor 1.00000000 Interest Freq Monthly Deal Age 0 TREASURY CURVE 2 1.2795 3 1.5633 5 2.2765 10 3.3535 30 4.3658 SWAP CURVE 2 yr 19.5000 3 yr 30.0000 5 yr 33.7500 7 yr 46.2500 10 yr 36.2500 20 yr 68.2500 30 yr 30.0000 PREPAY CPR 0 (!YM) CPR 25 (!YM) CPR 50 (!YM) CPR 75 (!YM) CPR 100 - ---------------------------------------------------------------------------------------------------------- PRICE / YIELD | - ---------------------------------------------------------------------------------------------------------- 99.8859 | 4.3017 4.3017 4.3017 4.3017 4.3015 99.9484 | 4.2939 4.2938 4.2938 4.2938 4.2935 100.0109 | 4.2860 4.2860 4.2860 4.2860 4.2855 100.0734 | 4.2782 4.2782 4.2782 4.2781 4.2776 100.1359 | 4.2704 4.2704 4.2703 4.2703 4.2696 100.1984 | 4.2626 4.2626 4.2625 4.2625 4.2616 100.2609 | 4.2548 4.2548 4.2547 4.2547 4.2536 100.3234 | 4.2470 4.2470 4.2469 4.2468 4.2456 100.3859 | 4.2392 4.2392 4.2391 4.2390 4.2377 100.4484 | 4.2314 4.2314 4.2313 4.2312 4.2297 100.5109 | 4.2237 4.2236 4.2235 4.2234 4.2218 100.5734 | 4.2159 4.2158 4.2157 4.2156 4.2138 100.6359 | 4.2081 4.2081 4.2080 4.2078 4.2059 100.6984 | 4.2004 4.2003 4.2002 4.2001 4.1980 100.7609 | 4.1926 4.1925 4.1924 4.1923 4.1900 100.8234 | 4.1849 4.1848 4.1847 4.1845 4.1821 100.8859 | 4.1771 4.1770 4.1769 4.1768 4.1742 100.9484 | 4.1694 4.1693 4.1692 4.1690 4.1663 101.0109 | 4.1616 4.1615 4.1614 4.1613 4.1584 101.0734 | 4.1539 4.1538 4.1537 4.1535 4.1505 101.1359 | 4.1462 4.1461 4.1460 4.1458 4.1426 - ---------------------------------------------------------------------------------------------------------- AVERAGE LIFE | 9.98 9.98 9.97 9.95 9.72 FIRST PRIN | 05/15/2013 05/15/2013 05/15/2013 05/15/2013 02/15/2013 LAST PRIN | 06/15/2013 06/15/2013 06/15/2013 06/15/2013 03/15/2013 PAYMENT WINDOW | 2 2 2 2 2 ACCRUAL FACTOR | 0.0474 0.0474 0.0474 0.0474 0.0474 MOD DURATION @ 100.5109 | 7.99 7.99 7.98 7.97 7.82 SPREAD INTERP. @ 100.5109 | 87 88 88 88 93 Page 4 of 5 - -----------------------------------------------------------------------------------------------------------------------------------
MORGAN STANLEY
- ----------------------------------------------------------------------------------------------------------------------------------- 05/29/2003 16:36:51 CARVE Version 835.0 /u/margol/deal/MSDW_2003-IQ4/priced/iq4.fixedpriced.carve MSCI MSCI SERIES 2003-IQ4 PRICED CLASS D =================================================================================================================================== Class D Settlement Date 06/05/2003 Coupon 4.34000 Cusip N/A Original Balance 4,549,000.00 Dated Date 06/01/2003 Delay 14 Yield Table Date 05/29/2003 Current Balance 4,549,000.00 First Payment Date 07/15/2003 Lead Manager Morgan Stanley & Co. Yield Frequency SemiAnnual Credit Rating A-/A3 Next Payment Date 07/15/2003 Orig Deal Size 728,398,609.26 Yield Day Count 30/360 Market Desc N/A Payment Freq Monthly Num of Tranches 24 Factor 1.00000000 Interest Freq Monthly Deal Age 0 TREASURY CURVE 2 1.2795 3 1.5633 5 2.2765 10 3.3535 30 4.3658 SWAP CURVE 2 yr 19.5000 3 yr 30.0000 5 yr 33.7500 7 yr 46.2500 10 yr 36.2500 20 yr 68.2500 30 yr 30.0000 PREPAY CPR 0 (!YM) CPR 25 (!YM) CPR 50 (!YM) CPR 75 (!YM) CPR 100 - ---------------------------------------------------------------------------------------------------------- PRICE / YIELD | - ---------------------------------------------------------------------------------------------------------- 99.9247 | 4.3678 4.3678 4.3678 4.3678 4.3675 99.9872 | 4.3599 4.3599 4.3599 4.3599 4.3595 100.0497 | 4.3521 4.3521 4.3521 4.3521 4.3515 100.1122 | 4.3443 4.3443 4.3443 4.3443 4.3436 100.1747 | 4.3365 4.3365 4.3365 4.3365 4.3356 100.2372 | 4.3287 4.3287 4.3287 4.3287 4.3276 100.2997 | 4.3209 4.3209 4.3209 4.3209 4.3197 100.3622 | 4.3131 4.3131 4.3131 4.3131 4.3117 100.4247 | 4.3053 4.3053 4.3053 4.3053 4.3038 100.4872 | 4.2975 4.2975 4.2975 4.2975 4.2958 100.5497 | 4.2897 4.2897 4.2897 4.2897 4.2879 100.6122 | 4.2820 4.2820 4.2820 4.2820 4.2800 100.6747 | 4.2742 4.2742 4.2742 4.2742 4.2721 100.7372 | 4.2665 4.2665 4.2665 4.2665 4.2642 100.7997 | 4.2587 4.2587 4.2587 4.2587 4.2562 100.8622 | 4.2510 4.2510 4.2510 4.2510 4.2483 100.9247 | 4.2432 4.2432 4.2432 4.2432 4.2404 100.9872 | 4.2355 4.2355 4.2355 4.2355 4.2325 101.0497 | 4.2278 4.2278 4.2278 4.2278 4.2247 101.1122 | 4.2200 4.2200 4.2200 4.2200 4.2168 101.1747 | 4.2123 4.2123 4.2123 4.2123 4.2089 - ---------------------------------------------------------------------------------------------------------- AVERAGE LIFE | 10.03 10.03 10.03 10.03 9.78 FIRST PRIN | 06/15/2013 06/15/2013 06/15/2013 06/15/2013 03/15/2013 LAST PRIN | 06/15/2013 06/15/2013 06/15/2013 06/15/2013 03/15/2013 PAYMENT WINDOW | 1 1 1 1 1 ACCRUAL FACTOR | 0.0482 0.0482 0.0482 0.0482 0.0482 MOD DURATION @ 100.5497 | 7.99 7.99 7.99 7.99 7.83 SPREAD INTERP. @ 100.5497 | 93 93 93 93 98 Page 5 of 5 - -----------------------------------------------------------------------------------------------------------------------------------