Pricing Supplement No. 14 Filing under Rule 424(b)(3) Dated August 4, 1994 Registration File No. 33-52737 (To Prospectus dated March 28, 1994 and Prospectus Supplement dated March 29, 1994) AVERY DENNISON CORPORATION Medium-Term Notes, Series B Due from 9 Months to 30 Years from Date of Issue The Medium-Term Note(s) due from 9 months to 30 years from the date of issue offered concurrently herewith will have a: X fixed rate of interest, _____ floating rate of interest; and will be issued initially as: X a Global Note, _____ Certificated Notes. Principal amount: $ 5,000,000 Interest Rate (if fixed rate): 7.65% Stated Maturity: August 11, 2004 Specified Currency: U.S. Dollars Authorized Denominations (if Specified Currency is not U.S. dollars): N/A Exchange Rate Agent (if Specified Currency is not U.S. dollars): N/A Issue price (as a percentage of principal amount): 100% Selling Agent's commission (%): .625% Purchasing Agent's discount or commission (%): N/A Net proceeds to the Company (%): 99.375% Settlement date (original issue date): August 11, 1994 Redemption Commencement Date (if any): N/A Repayment Commencement Date (if any): N/A Depositary (if Global Note): Depository Trust Company Interest rate basis (if floating rate): N/A _____ Commercial Paper Rate _____ Prime Rate _____ LIBOR _____ Treasury Rate _____ CD Rate _____ Federal Funds Rate _____ Other: Calculation Agent: N/A Index Maturity: N/A Spread: N/A Spread Multiplier: N/A Maximum Interest Rate: N/A Minimum Interest Rate: N/A Initial Interest Rate: N/A Interest Payment Period: N/A Interest Rate Reset Period: N/A Interest Reset Date(s): N/A Interest Determination Date(s): N/A Calculation Date(s): N/A Interest Payment Date(s): A/S Regular Record Date(s): A/S Sinking Fund (if any): N/A Redemption prices (if any): The Redemption Price shall initially be _____% of the principal amount of such Note(s) to be redeemed and shall decline (but not below par) on each anniversary of the Redemption Commencement Date by _____% of the principal amount to be redeemed until the Redemption Price is 100% of such principal amount. Repayment prices (if any): The Repayment Price shall initially be __% of the principal amount of such Note(s) to be repaid and shall decline (but not below par) on each anniversary of the Repayment Commencement Date by __% of the principal amount until the Repayment Price is 100% of such principal amount. If such Note(s) is (are) denominated in other than U.S. dollars, the applicable Foreign Currency Supplement is attached hereto. Additional terms: N/A As of the date of this Pricing Supplement, the aggregate principal amount (or its equivalent in the Specified Currency) of the Securities (as defined in the Prospectus) which have been sold (including the Note(s) to which this Pricing Supplement relates) is $70,000,000. "N/A" as used herein means "Not Applicable". "A/S" as used herein means "As stated in the Prospectus Supplement referred to above". GOLDMAN, SACHS & CO. J. P. MORGAN SECURITIES, INC.