PAINEWEBBER EQUITY TRUST GROWTH STOCK SERIES 12, 497, 1994-03-02

PAINEWEBBER EQUITY TRUST GROWTH STOCK SERIES 12
497, 1994-03-02

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                                                Filed Pursuant to Rule 497(d)
                                                Registration File No.: 33-46434
                             PROSPECTUS SUPPLEMENT

                              Dated March 1, 1994

        This prospectus supplement dated March 1, 1994 modifies the prospectus
for PaineWebber Equity Trust Growth Stock Series 12 (the Information Highway
Portfolio) (the "Trust") dated September 21, 1993.

                              -------------------

        Paramount Communications, an issuer of one of the equity securities
held by the Trust, has announced a merger with Viacom. Due to this merger, the
Trust has tendered all of its Paramount shares to Viacom. Shortly after the
close of Viacom's tender offer on March 1, 1994, the Trust will receive cash
and securities in exchange for its Paramount shares. The Trustee will liquidate
all such securities received and pay all of the cash proceeds as a principal
distribution to all Unitholders of record as of March 1, 1994.