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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 JVv4gGPWEJ20MLkeut/7gMrAJjKbXUzWxT6ZMvaynebf8ALuLEHTmF5wnnZGQhwp
 dZNpqRgW4J/6+pjiwjrgiQ==

<SEC-DOCUMENT>0000950123-96-004201.txt : 19960812
<SEC-HEADER>0000950123-96-004201.hdr.sgml : 19960812
ACCESSION NUMBER:		0000950123-96-004201
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19960809
SROS:			NYSE

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PAINE WEBBER GROUP INC
		CENTRAL INDEX KEY:			0000075754
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				132760086
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	033-51149
		FILM NUMBER:		96606907

	BUSINESS ADDRESS:	
		STREET 1:		1285 AVE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		2127132000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PAINE WEBBER INC
		DATE OF NAME CHANGE:	19840523
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<DESCRIPTION>PRICING SUPPLEMENT TO PROSPECTUS
<TEXT>

<PAGE>   1

                                Filed pursuant to Rule 424(b)(3).
                                This pricing supplement relates to
                                Registration Statement Nos. 33-51149
                                and 33-52695.


                Pricing Supplement No. 17  Dated August 08, 1996
                (To Prospectus Dated November 15, 1995 and
                Prospectus Supplement Dated November 15, 1995)


                            PAINE WEBBER GROUP INC.

                               Multiple Currency
              ---------------------------------------------------
                        Medium-Term Senior Notes, Series C
              ---------------------------------------------------
              Due from Nine Months to 30 Years from Date of Issue
                             (FLOATING RATE NOTES)


<TABLE>
<S>                                     <C>
Designation:                            Medium Term Senior Notes, Series C

Original Issue Date:                    August 13, 1996

Principal Amount:                       $20,000,000.00

Interest Rate Basis:                    [ ] Commercial Paper Rate
                                        [ ] Prime Rate
                                        [ ] Federal Funds Rate
                                        [X] LIBOR
                                            [X] Telerate Screen Project 3750
                                            [ ] Reuters Screen LIBO Page
                                        [ ] Treasury Rate
                                            2 Year Treasury Constant Maturities
                                        (H.15) Telerate Screen Page 7055

Index Maturity:                         Monthly

Spread:                                 1 Month Libor + 37 Basis Points

Initial Interest Rate:                  To Be Determined
</TABLE>


<PAGE>   2
<TABLE>
<S>                             <C>
Regular Record Dates:           15 calendar days prior to Interest
                                Payment Dates

Interest Determination Dates:   Second London Business Day Preceding the
                                Interest Reset Date

Interest Payment Dates:         Same as interest reset dates

Interest Reset Dates:           The third Wednesday of each month commencing
                                September 18, 1996

Specified Currency in which     U.S. Dollars
Denominated:

Stated Maturity:                August 14, 2000

Issue Price (As a Percentage    100%
of Principal Amount):

Redemption and Early            The Note cannot be redeemed prior to Stated
Repayment Provision:            Maturity

Note(s) Represented By:         [X] Global Note
                                [ ] Certificated Note(s)

</TABLE>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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