<PAGE> 1
Filed pursuant to Rule 424(b)(3).
This pricing supplement relates to
Registration Statement Nos. 33-51149
and 33-52695.
Pricing Supplement No. 16 Dated July 31, 1996
(To Prospectus Dated November 15, 1995 and
Prospectus Supplement Dated November 15, 1995)
PAINE WEBBER GROUP INC.
Multiple Currency
---------------------------------------------------
Medium-Term Senior Notes, Series C
---------------------------------------------------
Due from Nine Months to 30 Years from Date of Issue
(FLOATING RATE NOTES)
<TABLE>
<S> <C>
Designation: Medium Term Senior Notes, Series C
Original Issue Date: August 6, 1996
Principal Amount: $4,100,000.00
Interest Rate Basis: [ ] Commercial Paper Rate
[ ] Prime Rate
[ ] Federal Funds Rate
[X] LIBOR
[X] Telerate Screen Project 3750
[ ] Reuters Screen LIBO Page
[ ] Treasury Rate
2 Year Treasury Constant Maturities
(H.15) Telerate Screen Page 7055
Index Maturity: Semiannual
Spread: 6 Month Libor + 75 Basis Points
Initial Interest Rate: To Be Determined
</TABLE>
<PAGE> 2
<TABLE>
<S> <C>
Regular Record Dates: 15 calendar days prior to Interest
Payment Dates
Interest Determination Dates: Second London Business Day Preceding the
Interest Reset Date
Interest Payment Dates: Same as interest reset dates; commencing
September 1, 1996
Interest Reset Dates: Semiannual; March 1 and September 1
Specified Currency in which U.S. Dollars
Denominated:
Stated Maturity: August 7, 2006
Issue Price (As a Percentage 100%
of Principal Amount):
Redemption and Early The Note cannot be redeemed prior to Stated
Repayment Provision: Maturity
Note(s) Represented By: [X] Global Note
[ ] Certificated Note(s)
</TABLE>
