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Rule 424(b)(3)
Registration No. 33-62777
PRICING SUPPLEMENT NO. 3 dated May 21, 1996
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THE WALT DISNEY COMPANY
MEDIUM-TERM NOTES
This Pricing Supplement accompanies and supplements the Prospectus dated March
7, 1996, as supplemented by the Prospectus Supplement, dated March 7, 1996 (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: U.S. $25,000,000
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Original Issue Price: Varying Prices Related To Prevailing Market Prices
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CUSIP No: 25468PAC0
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Proceeds to the Company: U.S. $24,475,000
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Discount or Commission to Agents: U.S. $525,000
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Original Issue Discount: N/A
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Original Issue Date: May 30, 1996
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Stated Maturity: June 15, 2011
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Yield to Maturity: N/A
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Initial Maturity (for Renewable Notes):_______
Final Maturity (for Renewable Notes):________
Earliest Redemption Date: June 15, 2000 or any Interest Payment Date
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occurring in June or December thereafter
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(with at least 30 days' but no more than 60 days'
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prior notice)
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Redemption Price: The Notes are redeemable, in whole but not in part, at 100%
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of principal amount plus accrued interest to the Redemption
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Date.
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Interest Rate Per Annum (for Fixed Rate Notes): 7.15%
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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
/ / Dow Jones Telerate Service
/ / Index Currency
/ / Treasury Rate
/ / Prime Rate
/ / Federal Funds Rate
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/ / CD Rate
/ / CMT Rate
/ / Dow Jones Telerate Page 7055
/ / Dow Jones Telerate Page 7052
/ / Week
/ / Month
/ / CMT Maturity Index:________
/ / 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,
September and December
/ / Third Wednesday of each ________________
and _________________
/ / Third Wednesday of each ________________
/X/ Other (specify) Monthly on the 15th day of each month commencing on
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June 15, 1996
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Regular Record Dates:
/X/ Fifteenth day (whether or not a Business Day)
immediately preceding the related Interest
Payment Date
/ / Other (specify)__________________________
Interest Payment Period:
/X/ Monthly
/ / Quarterly
/ / Semiannually
/ / Annually
Interest Reset Period:
/ / Daily
/ / Weekly
/ / Monthly
/ / Quarterly
/ / Semiannually
/ / Annually
Interest Reset Dates:
/ / As specified in Prospectus Supplement
/ / Other (specify)__________________________
Interest Determination Date:
/ / As specified in Prospectus Supplement
/ / Other (specify)__________________________
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Purchase of Notes at Option of Holder
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Purchase Purchase
Date(s): Price(s):
Calculation Agent: CITIBANK, N.A.
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Plan of Distribution:
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Merrill Lynch, Pierce, Fenner & Smith Incorporated has acted as principal
with respect to the purchase of the Notes.
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