PROSPECTUS Dated June 2, 1997 Pricing Supplement No. 23 to
PROSPECTUS SUPPLEMENT Registration Statement No. 333-27919
Dated June 2, 1997 November 21, 1997
Rule 424(b)(3)
Morgan Stanley, Dean Witter, Discover & Co.
MEDIUM-TERM NOTES, SERIES C
Senior Floating Rate Notes
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The Medium-Term Notes, Series C (Senior Floating Rate Notes)
described in this Pricing Supplement (the "Notes") will mature on the Maturity
Date and will not be redeemable at the option of Morgan Stanley, Dean Witter,
Discover & Co. prior to the Maturity Date. The Notes are further described
under "Description of Notes--Floating Rate Notes" in the accompanying
Prospectus Supplement, except that to the extent the terms described below are
inconsistent with such description, the terms described below shall control.
Under the Taxpayer Relief Act of 1997, with respect to an
individual, the long-term capital gain, if any, recognized on an asset held
for more than eighteen months may be subject to a lower rate (or rates) of
United States federal income taxation than the long-term capital gain
recognized on an asset held for eighteen months or less.
Principal Amount: $100,000,000
Maturity Date: April 3, 2000; provided that if such day is not a
Business Day, the payment of principal and interest
will be made on the next succeeding Business Day, and
no interest on such payment shall accrue for the
period from and after the Maturity Date
Interest Accrual
Date: December 1, 1997
Interest Payment
Dates: Each January 3, April 3, July 3 and October 3, commencing
January 3, 1998; provided that the final Interest
Payment Date will be the Maturity Date. If any such
day (other than the Maturity Date) is not a Business
Day, such Interest Payment Date will be the next
succeeding Business Day, except that if such Business
Day is in the next succeeding calendar month, such
Interest Payment Date shall be the next preceding day
that is a Business Day
Initial Interest
Rate: To be determined two London Banking Days prior to the
date of issuance based on interpolated LIBOR for the
period
Base Rate: LIBOR
Index Maturity: 3 Month
Spread (Plus or
Minus): Plus 0.05% per annum
Minimum Denomination: $1,000,000
Interest Payment
Period: Quarterly
Specified Currency: U.S. Dollars
Issue Price: 99.78%
Settlement Date
(Original Issue
Date): December 1, 1997
Initial Interest
Reset Date: January 3, 1998, or if such day is not a Business Day,
the next succeeding Business Day, except that if such
Business Day is in the next succeeding calendar
month, such Initial Interest Reset Date shall be the
next preceding day that is a Business Day
Interest Reset Dates: Same as Interest Payment Dates
Interest Reset
Period: Quarterly
Interest
Determination
Dates: Two London Banking Days prior to each Interest
Reset Date
Reporting Service: Telerate (Page 3750)
Book Entry Note or
Certificated
Note: Book Entry Note
Senior Note or
Subordinated
Note: Senior Note
Agent: Morgan Stanley & Co. Incorporated
Calculation Agent: The Chase Manhattan Bank
Business Days: London, New York
CUSIP: 61745EKY6
Capitalized terms not defined above have the meanings given to such terms in
the accompanying Prospectus Supplement.
MORGAN STANLEY DEAN WITTER
