<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. 022 Dated March 16, 1994
(To Prospectus Dated November 29, 1993 and
Prospectus Supplement Dated November 30, 1993)
PAINE WEBBER GROUP INC.
Multiple Currency
Medium-Term Subordinated Notes, Series C
Due from Nine Months to 30 Years from Date of Issue
(Floating Rate Notes)
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<S> <C>
Designation: Medium-Term Subordinated Notes, Series C
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Original Issue Date: March 18, 1994
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Principal Amount: $10,000,000
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Interest Rate Basis: [ ] Commercial Paper Rate
[ ] Prime Rate
[ ] Federal Funds Rate
[X] LIBOR
[X] Telerate Screen Page 3750
[ ] Reuters Screen LIBO Page
[ ] Treasury Rate
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Index Maturity: Quarterly
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Spread 1 Month LIBOR + 15
------------------
Initial Interest Rate: 3.7125%
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Interest Payment Dates: Third Wednesday,
Monthly, Beginning
April 1994 through
February 1995
------------------
Interest Reset Dates: Third Wednesday,
Monthly, Beginning
April 1994 through
February 1995
------------------
Regular Record Dates: 15 Calendar Days
Prior to Each Interest
Payment Date
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Interest Determination Third Monday,
Dates: Monthly, Beginning
April 1994 through
February 1995
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Specified Currency
in which Denominated: U.S. Dollars
------------------
Stated Maturity: March 10, 1995
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Issue Price (As a Percentage
of Principal Amount): 100%
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Redemption and Early The Note cannot be
Repayment Provisions: redeemed prior to
Stated Maturity
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Note(s) represented by: [X] Global Note
[ ] Certificated Note(s)
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