Rule 424(b)(3)
Registration No. 33-49891
PRICING SUPPLEMENT NO. 11 dated August 17, 1994
The Walt Disney Company
Medium-Term Notes
This Pricing Supplement accompanies and supplements the
Prospectus dated August 27, 1993, as supplemented by the
Prospectus Supplement, dated September 10, 1993 (the "Prospectus
Supplement").
The Notes have the following terms (as applicable):
Rate: [X] Fixed Rate [ ] Floating Rate [ ] Zero Coupon [ ] Discount
Form: [X] Book-Entry [ ] Definitive
Principal Amount: $25,000,000
Original Issue Price: PAR CUSIP No: 25469HBK8
Original Issue Discount: N/A
Original Issue Date: September 16, 1994
Stated Maturity: September 16, 2004
Yield to Maturity: N/A
Earliest Redemption Date: September 16, 1997 or any Interest
Payment Date thereafter (with at least
30 days' but no more than 60 days'
prior notice)
Redemption Price: The Notes are redeemable, in whole but not in
part, at 100% of Par Amount plus accrued interest
to the Redemption Date
Interest Rate Per Annum (for Fixed Rate Notes):
The interest rate per annum payable on the Notes for each of
the periods set forth below shall be the interest rate set forth
opposite such period below:
Period -- Interest Rate Per Annum
From and including September 16, 1994 to but excluding
September 16, 1995 -- 7.250%
From and including September 16, 1995 to but excluding
September 16, 1996 -- 7.250%
From and including September 16, 1996 to but excluding
September 16, 1997 -- 7.250%
From and including September 16, 1997 to but excluding
September 16, 1998 -- 7.300%
From and including September 16, 1998 to but excluding
September 16, 1999 -- 7.400%
From and including September 16, 1999 to but excluding
September 16, 2000 -- 7.500%
From and including September 16, 2000 to but excluding
September 16, 2001 -- 7.750%
From and including September 16, 2001 to but excluding
September 16, 2002 -- 8.250%
From and including September 16, 2002 to but excluding
September 16, 2003 -- 9.250%
From and including September 16, 2003 to but excluding
September 16, 2004 -- 10.250%
Interest Rate Provisions (for Floating Rate Notes):
Initial Interest Rate:_____% per annum
Base Rate or Rates:
[ ] Commercial Paper Rate
[ ] LIBOR:
[ ] Reuters Monitor Money Rates Service
[ ] Telerate Service
[ ] Treasury Rate
[ ] Prime Rate
[ ] Federal Funds Rate
[ ] CD Rate
[ ] Other:
Spread: ______
Spread Multiplier:______%
Index Maturity:
[ ] 1 Month
[ ] 3 Months
[ ] 6 Months
[ ] 1 Year
[ ] Other (specify) _______________________
Maximum Interest Rate:_______% per annum
Minimum Interest Rate:_______% per annum
Interest Payment Dates:
[ ] Third Wednesday of each month
[ ] Third Wednesday of each March, June,
[ ] Third Wednesday of each __________________
and _______________________
[ ] Third Wednesday of each __________________
[X] Other (specify) Semiannually on March 16 and September 16,
commencing on March 16, 1995
Regular Record Dates:
[X] Fifteenth day (whether or not a Business
Day) immediately preceding the related Interest
Payment Date
[ ] Other (specify) ______________________
Interest Payment Period:
[ ] Monthly
[ ] Quarterly
[X] Semiannually
[ ] Annually
Interest Reset Period:
[ ] Daily
[ ] Weekly
[ ] Monthly
[ ] Quarterly
[ ] Semiannually
[X] Annually
Interest Reset Dates:
[ ] As specified in Prospectus Supplement
[X] Other (specify) September 16 of each year
Interest Determination Date:
[ ] As specified in Prospectus Supplement
[ ] Other (specify) ____________________
Purchase of Notes at Option of Holder
Purchase Purchase
Date(s): N/A Price(s): N/A
Calculation Agent: Dean Witter Reynolds Inc.
Certain Federal Income Tax Consequences
The Notes will be treated, for Federal income tax purposes, as a
series of debt instruments issued without original issue or
acquisition discount. Accordingly, the payment of interest on
the Notes will be treated as ordinary interest income and will be
includible in income when received or accrued in accordance with
the holder's method of accounting.
Plan of Distribution
Pursuant to a Letter Agreement dated August 17, 1994 between The
Walt Disney Company (the "Company") and Dean Witter Reynolds Inc.
("Dean Witter"), Dean Witter has been selected and designated as
an Agent under the Distribution Agreement dated September 10,
1993 between the Company and Goldman, Sachs & Co., Lehman
Brothers, Lehman Brothers Inc., Merrill Lynch & Co., Merrill
Lynch, Pierce, Fenner & Smith Incorporated and Morgan Stanley &
Co. Incorporated, solely with respect to the purchase, as
principal, of the Notes. In the ordinary course of their
respective businesses, affiliates of Dean Witter have engaged,
and may in the future engage, in commercial banking and
investment banking transactions with the Company and its
affiliates.
