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SEARS OFFERS CREDIT PASS-THROUGH CERTIFICATES

 SEARS OFFERS CREDIT PASS-THROUGH CERTIFICATES
 CHICAGO, Nov. 12 /PRNewswire/ -- Sears, Roebuck and Co. (NYSE: S)


and the Dean Witter Financial Services Group announced that Sears indirect wholly owned subsidiary, Discover Receivables Financing Group, Inc., today offered for sale $400 million of Discover Card Trust 1991 E 7.30 percent Class A Credit Card Pass-Through Certificates, $40 million of Discover Card Trust 1991 E 7.85 percent Class B Credit Card Pass- Through Certificates, $400 million of Discover Card Trust 1991 F 7.85 percent Class A Credit Card Pass-Through Certificates, and $40 million of Discover Card Trust 1991 F 8.35 percent Class B Credit Card Pass- Through Certificates through an underwriting syndicate managed by Dean Witter Reynolds Inc., Goldman, Sachs & Co. and Salomon Brothers Inc.
 Discover Card Trust 1991 E Class A securities have an expected average life of 5.0 years. Principal payments to Class A certificateholders will commence in June, 1996. The Class A securities were priced at 99.622 percent of par plus accrued interest from Nov. 1, resulting in a yield of 7.41 percent. The Discover Card Trust 1991 E Class B securities have an expected payment date of June 20, 1997. The Class B securities were priced at 99.539 percent of par plus accrued interest from Nov. 1, resulting in a yield of 7.99 percent.
 Discover Card Trust 1991 F Class A securities have an expected final payment date of Nov. 20, 1998. The Class A securities were priced at 99.532 percent of par plus accrued interest from Nov. 1, resulting in a yield of 7.86 percent. Discover Card Trust 1991 F Class B securities have an expected final payment date of Jan. 20, 1999. The Class B securities were priced at 99.622 percent of par plus accrued interest from Nov. 1, resulting in a yield of 8.34 percent.
 The principal assets of Discover Card Trust 1991 E and Discover Card Trust 1991 F will consist of credit card receivables generated or to be generated by the Discover Card. The certificates will represent undivided ownership interests in the respective Trusts. The Class A certificates will be rated Aaa by Moody's, AAA by Standard & Poor's and AAA by Duff & Phelps. The Class B certificates will be rated A by Moody's, A by Standard & Poor's and A by Duff & Phelps.
 A copy of the prospectus may be obtained from Dean Witter Reynolds Inc., 2 World Trade Center, New York, N.Y., 10048, Goldman, Sachs & Co., Prospectus Department, 85 Broad Street, New York, N.Y., 10004 or Salomon Brothers Inc, Prospectus Department, 140 58th Street, Brooklyn, N.Y., 11220.
 -0- 11/12/91
 /CONTACT: Gerald E. Buldak of Sears, Roebuck, 312-875-8371/
 (S) CO: Sears, Roebuck and Co.; Discover Receivables Financing Group ST: Illinois IN: FIN SU: OFR SM -- NY085 -- 3631 11/12/91 16:56 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 12, 1991
Words:476
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