PAINE WEBBER GROUP INC
424B3, 1994-01-11
SECURITY BROKERS, DEALERS & FLOTATION COMPANIES
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<PAGE>   1
                                           Filed pursuant to Rule
                                           424(b)(3).  This Pricing
                                           Supplement relates to
                                           Registration  Statements No.
                                           33-58124 and 33-51149




               Pricing Supplement No. 007 Dated January 6, 1994
                  (To Prospectus Dated November 29, 1993 and
                Prospectus Supplement Dated November 30, 1993)

                            PAINE WEBBER GROUP INC.

                               Multiple Currency
                       Medium-Term Senior Notes, Series C
              Due from Nine Months to 30 Years from Date of Issue
                             (Fixed Rate Notes)

<TABLE>
<S>                                    <C>
Designation:                           Medium-Term Senior Notes, Series C
                                       ----------------------------------
                                       
Original Issue Date:                   January 13, 1994
                                       ------------------
                                       
Principal Amount:                      $5,000,000       
                                       ------------------
                                       
Interest Rate Per Annum:               5.71%
                                       -------------------
                                       
Regular Record Dates:                  15 Calendar Days
                                       Prior to Each
                                       Interest Payment
                                       Date              
                                       ------------------
                                       
Specified Currency
  in which Denominated:                U.S. Dollars      
                                       ------------------
                                       
Stated Maturity:                       January 13,1998  
                                       ------------------

Issue Price (As a Percentage            
  of Principal Amount):                100%              
                                       ------------------
                                       
Redemption and Early                   The Note cannot be
  Repayment Provisions:                redeemed prior to
                                       Stated Maturity   
                                       ------------------


Note(s) represented by:                [X] Global Note
                                       [ ] Certificated Note(s)
</TABLE>                                       




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