PROSPECTUS Dated June 2, 1997 Pricing Supplement No. 34 to
PROSPECTUS SUPPLEMENT Registration Statement No. 333-27919
Dated June 17, 1997 Dated January 16, 1998
Rule 424(b)(3)
Morgan Stanley, Dean Witter, Discover & Co.
GLOBAL MEDIUM-TERM NOTES, SERIES D
Euro Floating Rate Senior Bearer Notes Due February 2000
-----------------------
The Global Medium-Term Notes, Series D (Euro Floating Rate Senior Bearer
Notes Due February 2000) described in this Pricing Supplement (the "Notes") will
mature on the Maturity Date. The Notes will not be redeemable at the option of
Morgan Stanley, Dean Witter, Discover & Co. prior to the Maturity Date other
than under the circumstances described under "Description of Notes--Tax
Redemption" in the accompanying Prospectus Supplement.
The Notes will be issued only in bearer form, which form is further
described under "Description of Notes--Forms, Denominations, Exchange and
Transfer" in the accompanying Prospectus Supplement. Notes in bearer form will
not be exchangeable at any time for Notes in registered form at the option of
the holder.
The Global Medium-Term Notes, Series D of the Company, including the Notes,
have been listed on the London Stock Exchange Limited (the "London Stock
Exchange").
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.
Principal Amount: ITL 100,000,000,000
Maturity Date: February 9, 2000; provided that if such day is not a
Business Day, the Maturity Date will be the next
succeeding day that is a Business Day, and no interest
shall accrue for the period from and after the Maturity
Date.
Settlement and Issue
Date: February 9, 1998
Interest Accrual
Date: February 9, 1998
Issue Price: 100%
Specified Currency: Italian Lira
Redemption Percentage
at Maturity: 100%
Base Rate: LIBOR. See also "Interest Rate" below.
Spread (Plus
or Minus): Plus 0.75% per annum. See also "Interest Rate" below.
Spread Multiplier: N/A
Alternate Rate
Event Spread: N/A
Index Currency: Italian Lira
Index Maturity: 6 months
Interest Rate: LIBOR plus 0.75% per annum times N/360, subject to the
Minimum Interest Rate. N is the number of calendar days
in the Interest Payment Period on which 6 month ITL
LIBOR for such day (the "Calculation Rate") is at or
above 4.25%; provided that the Calculation Rate for a
calendar day that is not a Business Day will be the
Calculation Rate for the immediately preceding Business
Day; and provided further that the Calculation Rate for
the fifth Business Day immediately preceding an Interest
Payment Date will be the Calculation Rate for each
calendar day from and including such fifth preceding
Business Day to but excluding such Interest Payment
Date.
Maximum Interest Rate: N/A
Minimum Interest Rate: 2.00%
Initial Redemption
Date: N/A
Initial Redemption
Percentage: N/A
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Annual Redemption
Percentage Reduction: N/A
Optional Repayment
Date(s): N/A
Total Amount of OID: None
Original Yield to
Maturity: N/A
Initial Accrual
Period OID: N/A
Interest Payment Dates: Each February 9 and August 9, commencing August 9, 1998
(each an "Interest Payment Date"); provided that if any
such day (other than the Maturity Date) is not a
Business Day, such Interest Payment Date will be the
next succeeding day that is a Business Day, unless such
succeeding Business Day falls in the next succeeding
calendar month, in which case such Interest Payment Date
will be the immediately preceding day that is a Business
Day
Interest Payment
Period: Semi-annually
Initial Interest Rate: The initial 6 month LIBOR rate that is
subject to the formula under "Interest Rate" will be
determined 2 London Banking Days prior to the date of
issuance.
Initial Interest
Reset Date: August 9, 1998; provided that if such day is not a
Business Day, such Initial Interest Reset Date will be
the next succeeding day that is a Business Day, unless
such succeeding Business Day falls in the next
succeeding calendar month, in which case such Initial
Interest Reset Date will be the immediately preceding
day that is a Business Day.
Interest Reset Dates: Each Interest Payment Date
Interest Reset Periods: he period from and including an Interest Reset Date to
but excluding the immediately succeeding Interest Reset
Date.
Reporting Service: Telerate 3740
Business Days: Milan, London, New York
Agent: Morgan Stanley &Co. International
Limited
Calculation Agent: The Chase Manhattan Bank (London Branch)
Paying Agent: The Chase Manhattan Bank (London Branch)
Exchange Rate Agent: Morgan Stanley & Co. International Limited
Denominations: ITL 10,000,000
Common Code: 008393982
ISIN: XS0083939826
Other Provisions: N/A
Capitalized terms not defined above have the meanings given to such terms in the
accompanying Prospectus Supplement.
MORGAN STANLEY DEAN WITTER