PROSPECTUS Dated March 12, 1998 Pricing Supplement No. 3 to
PROSPECTUS SUPPLEMENT Registration Statement No. 333-46935
Dated March 12, 1998 March 17, 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,
subject to and as modified by the provisions described below.
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: $50,000,000
Maturity Date: March 20, 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: March 20, 1998
Interest Payment
Dates: The twentieth day of each
month, commencing April 20,
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: 1 Month
Spread (Plus or Minus): Plus 0.08% per annum
Index Currency: U.S. Dollars
Interest Payment
Period: Monthly
Specified Currency: U.S. Dollars
Issue Price: 100%
Settlement Date
(Original Issue Date): March 20, 1998
Initial Interest Reset
Date: April 20, 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: Monthly
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: 61745EMJ7
Capitalized terms not defined above have the meanings given to such terms in the
accompanying Prospectus Supplement.
MORGAN STANLEY DEAN WITTER
