Pricing Supplement No. Euro D 139 Dated 11/8/94 Rule 424(b)(3)
(To Prospectus dated October 12, 1994 and File No. 33-51269,
Prospectus Supplement dated October 12, 1994) and 33-54929
Salomon Inc
Medium-Term Notes, Series D
(Bearer Notes--Floating Rate or Indexed Rate)
Due More Than Nine Months from Date of Issue
Principal Amount or Face Amount: $5,000,000
Issue Price: 100%
Proceeds to Company on original issuance: $4,987,500
Commission or Discount on original issuance: $12,500
Salomon Brothers International Limited's capacity on original issuance:
|x| As agent | | As principal
If as principal:
| | The Bearer Notes are being offered at varying prices related to
prevailing market prices at the time of resale.
| | The Bearer Notes are being offered at a fixed initial public
offering price of % of Principal Amount or Face Amount.
Original Issue Date: 11/9/94
Stated Maturity: 11/10/97
Specified Currency:
(If other than U.S. Dollars)
Authorized Denominations: $1,000,000
(If other than as set forth in the Prospectus Supplement)
Interest Payment Dates: Annually on 11/10. 1st coupon pays on 11/10/95.
(If other than as set forth in the Prospectus Supplement)
Indexed Principal Note: |x| Yes (see attached) | | No
Floating Rate: | | Indexed Rate: |x| (see attached)
Initial Interest Rate:
Base Rate: | | CD Rate | | Commercial Paper Rate | | Federal Funds Rate
| | LIBOR Telerate | | Libor Reuters | | Treasury Rate
| | Treasury Rate Constant Maturity |x| Other (see attached)
Interest Reset Dates: Annually on 11/10.
Optional Reset Dates (if applicable):
Index Maturity: See Attached
Spread (+/-): See Attached
Spread Multiplier:
Spread Reset: |x| The Spread or Spread Multiplier may not be changed prior to
Stated Maturity.
| | The Spread or Spread Multiplier may be changed prior to Stated
Maturity (see attached).
Maximum Interest Rate:
Minimum Interest Rate:
Amortizing Note: | | Yes |x| No
Amortizing Schedule:
Optional Redemption: | | Yes |x| No
Optional Redemption Dates:
Redemption Prices:
Optional Repayment: | | Yes |x| No
Optional Repayment Dates:
Optional Repayment Prices:
Discount Note: | | Yes |x| No
Total Amount of OID:
Yield to Maturity:
NOT WITHSTANDING THE STATEMENT IN PROSPECTUS SUPPLEMENT, THE NOTE OFFERED
HEREBY WILL NOT BE LISTED ON THE LUXEMBOURG STOCK EXCHANGE.
Pricing Supplement dated November 8, 1994
(to Prospectus Supplement dated October 12, 1994,
to Prospectus dated October 12, 1994)
GENERAL
The Bearer Note to which this Pricing Supplement
relates (the "Note") is an Indexed Rate Note and an Indexed
Principal Note.
"FX" means, with respect to any Interest Payment Date,
Stated Maturity or any earlier Maturity (collectively, "Payment
Dates"), the number of Japanese yen required, as of the day that
is five Japanese Business Days prior to the relevant Payment
Date, to purchase one U.S. dollar for settlement on the second
following day that is a New York Business Day and a Japanese
Business Day, as determined by the Calculation Agent. Such
determination by the Calculation Agent shall, in the absence of
manifest error, be binding on holders of the Note and the
Company. A Japanese Business Day means a day, other than a
Saturday or Sunday, on which banks in Tokyo, Japan are not
required or authorized by law to close. A New York Business Day
means a day, other than a Saturday or Sunday, on which banks in
the City of New York are not required or authorized by law to be
closed.
The Calculation Agent for the Note shall be Salomon
Brothers Asia Limited, which is a wholly-owned indirect
subsidiary of the Company.
INTEREST AND INTEREST PAYMENTS
The Note shall pay interest on the Face Amount on each
Interest Payment Date at a rate equal to 4.15% per annum, computed
on the basis of a 360-day year consisting of twelve 30-day
months, times a fraction having (i) a numerator equal to 97.0 and
(ii) a denominator equal to "FX" in respect of the relevant
Interest Payment Date.
PRINCIPAL AMOUNT
The Principal Amount due at Stated Maturity, or any
earlier Maturity, of the Note will be an amount equal to the Face
Amount of the Note times a fraction having (i) a numerator equal
to 97.0 and (ii) a denominator equal to "FX" in respect of Stated
Maturity or any earlier Maturity.
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DESCRIPTION OF JAPANESE YEN
The yen is the national currency of Japan. Japanese
bank notes are issued by The Bank of Japan, which was established
in 1882 and is the country's central bank and sole bank of issue.
On November 7, 1994, the noon buying rate for cable transfers in
New York City payable in yen, as reported by the Federal Reserve
Bank of New York, was Yen 97.24 = $1.00.
The exchange rate between the yen and the dollar is at
any moment a result of the supply of and the demand for the two
currencies, and changes in the rate result over time from the
interaction of many factors directly or indirectly affecting
economic conditions in Japan and in the United States, including
economic and political developments in other countries. Of
particular importance are rates of inflation, interest rate
levels, the balance of payments (both on capital and current
account) and the extent of governmental surpluses or deficits in
Japan and in the United States, all of which are in turn
sensitive to the monetary, fiscal and trade policies pursued by
the governments of Japan, the United States and other countries
important to international trade and finance. In recent years,
rates of exchange between the U.S. dollar and the Japanese yen
have been highly volatile.
