PROSPECTUS Dated June 2, 1997 Pricing Supplement No. 47 to
PROSPECTUS SUPPLEMENT Registration Statement No. 333-27919
Dated June 17, 1997 Dated February 11, 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 2001
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The Global Medium-Term Notes, Series D (Euro Floating Rate Senior Bearer
Notes Due February 2001) 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. (the "Company") 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.
Application has been made to the London Stock Exchange Limited (the "London
Stock Exchange") for the Notes to be admitted to the Official List.
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 30,000,000,000
Maturity Date: February 23, 2001; 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 23, 1998
Interest Accrual Date: February 23, 1998
Issue Price: 100%
Specified Currency: Italian Lira ("ITL")
Redemption Percentage
at Maturity: 100% See also "Other
Provisions--Premium" below.
Base Rate: LIBOR. See also "Other
Provisions--Interest Rate" below.
Spread
(Plus or Minus): Plus 0.80% per annum. See also
"Other Provisions--Interest Rate"
below.
Spread Multiplier: N/A
Alternate Rate
Event Spread: N/A
Index Currency: Italian Lira
Index Maturity: 3 months
Maximum Interest Rate: N/A
Minimum Interest Rate: See "Other
Provisions--Premium" below.
Initial Redemption Date: N/A
Initial Redemption
Percentage: N/A
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 23, May 23, August 23
and November 23, commencing May
23, 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: Quarterly
Initial Interest Rate: The initial rate subject to the formula
under "Other Provisions--Interest
Rate" will be determined two London
Banking Days prior to the date of
issuance.
Initial Interest
Reset Date: May 23, 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: The period from and including an
Interest Reset Date to but excluding
the immediately succeeding Interest
Reset Date.
Interest Determination
Date: Two London Banking Days preceding
each 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)
(Continued on next page)
Capitalized terms not defined above have the meanings given to such
terms in the accompanying Prospectus Supplement.
MORGAN STANLEY DEAN WITTER
(Continued from previous page)
Paying Agent: The Chase Manhattan Bank (London
Branch)
Exchange Rate Agent: Morgan Stanley & Co. International
Limited
Denominations: ITL 10,000,000
Common Code: 8464685
ISIN: XS0084646859
Other Provisions:
Interest Rate: The Notes will bear interest at the rate
of (i) 3 Month ITL LIBOR plus .80%
per annum during each Interest
Payment Period on which 3 Month
ITL LIBOR is equal to or greater than
the Floorside Strike Interest Rate and
less than or equal to the Topside
Strike Interest Rate on the Interest
Determination Date for such Interest
Payment Period and (ii) 0.00% during
any other Interest Payment Period.
But see "Other Provisions--Premium"
below.
Floorside Strike
Interest Rate: 4.15%
Topside Strike
Interest Rate: 6.50% for each Interest Payment
Period from and including February
23, 1998 to but excluding February
23, 1999. 6.00% for each Interest
Payment Period from and including
February 23, 1999 to but excluding
February 23, 2001.
Premium: At maturity, the holder of each Note
will receive a premium equal to 4.00%
of the par amount of such Note less
the sum of the interest payments
received by the holder on all Interest
Payment Dates including the Maturity
Date; provided that the Premium shall
not be less than zero.
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