PROSPECTUS Dated June 2, 1997 Pricing Supplement No. 51 to
PROSPECTUS SUPPLEMENT Registration Statement No. 333-27919
Dated June 2, 1997 February 18, 1998
Rule 424(b)(3)
Morgan Stanley, Dean Witter, Discover & Co.
MEDIUM-TERM NOTES, SERIES C
Senior Floating Rate Notes
------------
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: $200,000,000
Maturity Date: February 23, 2001; 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: February 23, 1998
Interest Payment
Dates: Each February 23, May 23, August 23 and November 23,
commencing May 23, 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
Base Rate: LIBOR
Index Maturity: 3 Months
Spread (Plus or
Minus): Plus 0.10% per annum
Index Currency: U.S. Dollars
Interest Payment
Period: Quarterly
Specified Currency: U.S. Dollars
Issue Price: At par or at variable prices. See "Plan of
Distribution" below.
Settlement Date
(Original Issue
Date): February 23, 1998
Initial Interest
Reset Date: May 23, 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
Minimum
Denomination: $1,000
CUSIP: 61745ELU3
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Capitalized terms not defined above have the meanings given to such terms in
the accompanying Prospectus Supplement.
MORGAN STANLEY DEAN WITTER
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Plan of
Distribution: On February 18, 1998, the Agent agreed to purchase
as principle the Notes from the Company, which Notes
were reoffered to investors at par or at variable
prices at the time of such resale.
