Pricing Supplement No. Euro D105 Dated 6/14/94 Rule 424(b)(3)
(To Prospectus dated December 14, 1993 and File No. 33-51269,
Prospectus Supplement dated December 14, 1993) 33-57922 and 33-49136
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: Yen 1,000,000,000
Issue Price: 100%
Proceeds to Company on original issuance: Yen 996,500,000
Commission or Discount on original issuance: Yen 3,500,000
Salomon Brothers International Limited's capacity on original issuance:
| | As agent |x| As principal
If as principal:
|x| 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: 6/15/94
Stated Maturity: 9/16/99
Specified Currency: Yen
(If other than U.S. Dollars)
Authorized Denominations: Yen 10,000,000
(If other than as set forth in the Prospectus Supplement)
Interest Payment Dates: 3/16 & 9/16 First Coupon pays 9/16/94
(If other than as set forth in the Prospectus Supplement)
Indexed Principal Note: | | Yes (see attached) |x| No
Floating Rate: | | Indexed Rate: |x| (see attached)
Initial Interest Rate: 2.425% from the original issue date to but not
including 9/16/94 (see attached).
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: 3/16 and 9/16, beginning 9/16/94.
Optional Reset Dates (if applicable):
Index Maturity: See Attached
Spread (+/-):
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: |x| Yes | | No Redemption must be in whole,
but not in part.
Optional Redemption Dates: 9/16/97 (see attached)
Redemption Prices: 100%
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 June 14, 1994
(to Prospectus Supplement dated December 14, 1993
to Prospectus dated December 14, 1993)
DESCRIPTION OF THE NOTE
General
The description in this Pricing Supplement of the
particular terms of the Bearer Note offered hereby (the "Note")
supplements, and to the extent inconsistent therewith replaces,
the descriptions of the general terms and provisions of the
Bearer Notes set forth in the accompanying Prospectus and
Prospectus Supplement, to which descriptions reference is hereby
made.
A "Business Day" means a day in which commercial banks
in (i) London, England and (ii) Tokyo, Japan are open for
business (including dealings in foreign exchange and foreign
currency deposits).
The Trustee shall provide notice of any optional
redemption of the Note at least 20, but no more than 60 days
prior to September 16, 1997.
Interest
For the period from September 16, 1994 to but excluding
September 16, 1997, the Note will bear interest at a rate equal
to 3.82% per annum, calculated on the basis of a 360 day year of
twelve 30-day months. If any Interest Payment Date during such
period is not a Business Day, such Interest Payment Date shall
not be postponed; provided, however, that any payment required to
be made on such day may be made on the next succeeding Business
Day with the same force and effect as if made on such day, and no
additional interest shall accrue as a result of such delayed
payment. For each following Interest Reset Period, the Note will
bear interest each day at a rate equal to "5 Year TSR" (as
defined below).
"5 Year TSR" means, with respect to any Interest Reset
Period, the 5 year Tokyo Swap Reference Rate quoted on Telerate
Screen 17143 (or any successor screen thereto) at 10:00 a.m.
Tokyo time on the second Business Day preceding the Interest
Reset Date with respect to such Interest Reset Period. However,
if the rate described in the preceding sentence does not appear
on any such second preceding Business Day, 5 Year TSR shall mean
the arithmetic mean (rounded, if necessary, to the nearest one-
hundreth of one percent) of the "5 Year Tokyo Yen to Yen swaps
mid-rate" (calculated on a semi-annual basis and Actual/365
(Fixed)), calculated by reference to the bid and offer rates
which appear on Telerate Pages 6493, 9766, 17112, 17118 and 19902
(and any successors thereto) on the relevant Business Day. If
three or more quotations are available on such pages, the
Calculation Agent shall use all such available quotations in
calculating the arithmetic mean. If fewer than three quotations
are available on such pages, "5 Year Tokyo Yen to Yen swaps mid-
rate" shall mean the arithmetic mean (rounded, if necessary to
the nearest one-hundredth of one percent) of 5 Year Tokyo Yen to
Yen swaps mid-rates (calculated on a semi-annual basis and
Actual/365 (Fixed)) offered by the Reference Banks on the
relevant Business Day.
"Reference Banks" means four major banks in the London,
England interbank market.
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 the sole bank of
issue. On June 9, 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 Yen104.45 = $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
prominent in international trade and finance. In recent years,
rates of exchange between the U.S. dollar and the Japanese yen
have been highly volatile.
