<PAGE> 1
[THIS CONFORMING PAPER FORMAT DOCUMENT IS BEING
SUBMITTED PURSUANT TO RULE 901(d) OF
REGULATION S-T]
Filed pursuant to Rule 424(b)(3).
This pricing supplement relates to
Registration Statement Nos. 33-52695
and 333-17913.
Pricing Supplement No. 9 Dated January 31, 1997
(To Prospectus Dated December 23, 1996 and
Prospectus Supplement Dated December 23, 1996)
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: February 5, 1997
Principal Amount: $10,000,000
Interest Rate Per Annum: 7.930%
Specified Currency in which U.S. Dollars
Denominated:
Stated Maturity: February 6, 2017
Issue Price (As a Percentage 100%
of Principal Amount):
Regular Record Dates: February 15 and August 15
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>
