Pricing Supplement No. 46
Rule 424 (b) (2)
DATED: 3/22/95 Registration No. 33-56196
(To Prospectus Supplement dated January 8, 1993,
including the Prospectus dated December 30, 1992)
$1,000,000,000
USL CAPITAL CORPORATION*
MEDIUM-TERM NOTES, SERIES C
Due from Nine Months to 30 Years from Date of Issue
Floating Rate Note [ ]
7.78% Fixed Rate Note [x]
Global Security: [x]Yes [ ]No
Principal Amount: $7,250,000
Settlement Date: 3/29/95
Maturity Date: 3/29/02
Interest Accrual Date: 3/29/95
New Maturity Date(s): N/A
Notice of Renewal Date(s): N/A
Issue Price: 100%
Specified Currency: U.S. Dollars
Exchange Rate Agent: N/A
Historical Exchange Rate: N/A
Redemption Dates: N/A
Redemption Price(s): N/A
Authorized Denominations ( if other than denominations of $1,000 and integral
multiples of $1,000 in excess thereof in U.S. Dollars): N/A
Repayment Date(s): N/A
Repayment Price(s): N/A
Interest Payment Period: Semi-Annually
Interest Payment Dates: 3/1, 9/1
(Only applicable to Floating Rate Notes)
Initial Interest Rate:
Index Maturity:
Base Rate(s):
If LIBOR, Designated LIBOR Page:
[ ] LIBOR Reuters
[ ] LIBOR Telerate
Index Currency:
Interest Reset Period:
Interest Reset Dates:
Spread (plus or minus):
Spread Multiplier:
Maximum Interest Rate:
Minimum Interest Rate:
Calculation Agent:
Original Issue Discount Note: [ ]Yes [x]No
(Only Applicable to Original Issue Discount Notes):
Total Amount of OID:
Yield to Maturity:
Initial Accrual Period OID:
Method to Determine Yield to Maturity and Initial Accrual Period OID:
Trade Date: 3/22/95
Name of Agent: J. P. Morgan Securities, Inc.
Agent's Discount or Commission: $29,000
Net Proceeds to Company: $7,221,000
[x] Agent is Acting as Agent for the Sale of Notes
by the Company at a Price to the Public of
[x]100% of Principal
[ ]___ % of Principal
[ ] Agent is Purchasing Notes from the Company as Principle
for Resale to investors and Other Purchasers at:
[ ] a fixed initial public offering price of
100% of the Principal Amount
[ ] a fixed initial public offering price of
___% of the Principal Amount
[ ] varying prices relating to prevailing market prices
at time of resale to be determined by Agent
Cusip Number: 91213LEN1
Additional Terms: On November 12, 1993 United States Leasing International,
Inc. changed its name to USL Capital Corporation.
