Rule 424(b)(3)
Registration No. 33-49891
PRICING SUPPLEMENT NO. 12 dated September 13, 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: 25469HBM4
Original Issue Discount: N/A
Original Issue Date: October 5, 1994
Stated Maturity: October 5, 2009
Yield to Maturity: N/A
Earliest Redemption Date: October 5, 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 October 5, 1994 to but excluding
October 5, 1995 -- 7.750%
From and including October 5, 1995 to but excluding
October 5, 1996 -- 7.750%
From and including October 5, 1996 to but excluding
October 5, 1997 -- 7.750%
From and including October 5, 1997 to but excluding
October 5, 1998 -- 7.800%
From and including October 5, 1998 to but excluding
October 5, 1999 -- 7.900%
From and including October 5, 1999 to but excluding
October 5, 2000 -- 8.000%
From and including October 5, 2000 to but excluding
October 5, 2001 -- 8.100%
From and including October 5, 2001 to but excluding
October 5, 2002 -- 8.250%
From and including October 5, 2002 to but excluding
October 5, 2003 -- 8.500%
From and including October 5, 2003 to but excluding
October 5, 2004 -- 8.750%
From and including October 5, 2004 to but excluding
October 5, 2005 -- 9.000%
From and including October 5, 2005 to but excluding
October 5, 2006 -- 9.500%
From and including October 5, 2006 to but excluding
October 5, 2007 -- 10.000%
From and including October 5, 2007 to but excluding
October 5, 2008 -- 10.500%
From and including October 5, 2008 to but excluding
October 5, 2009 -- 11.500%
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 April 5 and October 5,
commencing on April 5, 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) October 5 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
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 September 13, 1994 between
The Walt Disney Company (the "Company") and PaineWebber
Incorporated ("PaineWebber"), PaineWebber 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. PaineWebber has advised the Company
that it proposes to initially offer the Notes to the public at
the public offering price of 100% of the principal amount
thereof, and to certain dealers at such price less a concession
not in excess of 1.25% of the principal amount thereof. In the
ordinary course of their respective businesses, affiliates of
PaineWebber have engaged, and may in the future engage, in
commercial banking and investment banking transactions with the
Company and its affiliates.
