Pricing Supplement No. 1 dated October 27, 1998
(To Prospectus dated June 4, 1998, as supplemented by Prospectus
Supplement dated October 19, 1998)
Rule 424(b)(2)
Registration Nos. 333-18345 & 333-54009
$117,500,000
UNION PACIFIC CORPORATION
Medium-Term Notes, Series E
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Principal Amount: $117,500,000, as follows:
Salomon Smith Barney Inc. - $ 35,000,000
Chase Securities Inc. - 45,000,000
J.P. Morgan Securities Inc. - 37,500,000
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Total: $117,500,000
============
Issue Price (Dollar Amount and Percentage of Principal
Amount):$117,500,000; 100%
Settlement Date (Issue Date): October 30, 1998
Stated Maturity: November 1, 2004
Type of Note:
[X] Fixed Rate Note
[ ] Floating Rate Note
[ ] Inverse Floating Rate Note
[ ] Zero Coupon Note
[ ] Foreign Currency Note
[ ] Indexed Note
Form:
[X] Book Entry
[ ] Definitive
CUSIP No: 90782EGU2
Interest Rate: 6.39%
Interest Payment Dates: May 1 and November 1, commencing May 1, 1999
Redemption Terms (at option of Union Pacific):
[X] Not redeemable prior to Stated Maturity
[ ] Redeemable in accordance with the following terms:
Repayment Terms (at option of the Holder):
[X] Not repayable prior to Stated Maturity
[ ] Repayable in accordance with the following terms:
Sinking Fund Provisions:
[X] None
[ ] Applicable in accordance with the following terms:
Specified Currency (U.S. dollars, unless otherwise indicated):
Agents: Salomon Smith Barney Inc.
Chase Securities Inc.
J.P. Morgan Securities Inc.
Agents acting in capacity indicated below:
[X] As Agents
[ ] As Principals
Agents' Commissions: $646,250, as follows:
Salomon Smith Barney Inc. - $192,500
Chase Securities Inc. - 247,500
J.P. Morgan Securities Inc. - 206,250
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Total: $646,250
========
Net Proceeds to Union Pacific : $116,853,750, as follows:
Salomon Smith Barney Inc. - $ 34,807,500
Chase Securities Inc. - 44,752,500
J.P. Morgan Securities Inc. - 37,293,750
------------
Total: $116,853,750
============
Other:
