Filed Pursuant to Rule 424(b)(3)
Registration Statement Nos. 33-50385, 33-52421 and 33-55787
PRICING SUPPLEMENT NO. 1, dated November 2, 1994
(To Prospectus dated November 1, 1994 and
Prospectus Supplement dated November 1, 1994)
$1,200,000,000
Chrysler Financial Corporation
Medium-Term Notes, Series M
Due 9 Months or More From Date of Issue
Principal Amount: $25,000,000
Trade Date: November 2, 1994
Original Issue Date: November 23, 1994
Stated Maturity: November 23, 2006 (unless earlier redeemed as
described under "Additional Terms -- Optional
Redemption" below).
Price to Public (Issue Price): The Notes will be sold at varying prices to
be determined by the Agent at the time of
each sale. See "Plan of Distribution" below.
Agent's Discount or Commission: The Notes are being purchased by the Agent at
100% of their principal amount and will be
sold at varying prices to be determined at
the time of sale. For further information
with respect to the plan of distribution and
any discounts, commissions or profits on
resales of Notes that may be deemed
underwriting discounts or commissions, see
"Plan of Distribution" below.
Net Proceeds to Company: $25,000,000
Specified Currency: U.S. Dollars
Interest:
Interest Rate: The Notes will pay interest at the rate of
8.50% for the period from the original issue
date up to but excluding the fourth
semi-annual Interest Payment Date scheduled
to occur on November 23, 1996; thereafter,
the interest rate on the Notes will reset
annually on each November 23 in accordance
with the schedule set forth under "Additional
Terms -- Interest" below.
Interest Payment Dates: Each May 23 and November 23, commencing on
May 23, 1995 up to and including the Stated
Maturity unless earlier redeemed. See
"Additional Terms -- Interest" below.
Discount Notes: / / Yes /X/ No
Total Amount of OID:
Yield to Maturity:
Initial Accrual Period OID:
POTENTIAL PURCHASERS OF THE NOTES ARE URGED TO READ THIS PRICING SUPPLEMENT
THOROUGHLY TOGETHER WITH THE ACCOMPANYING PROSPECTUS AND PROSPECTUS SUPPLEMENT
EACH DATED NOVEMBER 1, 1994. SEE "CERTAIN INVESTMENT CONSIDERATIONS" HEREIN.
CAPITALIZED TERMS USED IN THIS PRICING SUPPLEMENT WHICH ARE DEFINED IN THE
PROSPECTUS SUPPLEMENT SHALL HAVE THE MEANINGS ASSIGNED TO THEM IN THE
PROSPECTUS SUPPLEMENT.
<PAGE>
Page 2
Additional Terms:
Interest.
Interest on the Notes will accrue from November 23, 1994 and will be
payable in U.S. dollars semiannually on each May 23 and November 23,
commencing May 23, 1995 up to and including the Stated Maturity or date of
earlier redemption (each, an "Interest Payment Date"). Interest will
accrue from and including each Interest Payment Date to but excluding the
next succeeding Interest Payment Date. In the event an Interest Payment
Date falls on a day other than a Business Day, interest will be paid on the
next succeeding Business Day and no interest on such payment shall accrue
for the period from and after such Interest Payment Date to such next
succeeding Business Day. The interest rate on the Notes will be equal to
8.50% per annum from and including the Original Issue Date up to but
excluding November 23, 1996. Thereafter, the interest rate will be subject
to adjustment annually on each November 23 in accordance with the following
schedule:
<TABLE>
<CAPTION>
Interest Period Interest Rate
<S> <C>
November 23, 1996 to November 22, 1997 8.625% per annum
November 23, 1997 to November 22, 1998 8.750% per annum
November 23, 1998 to November 22, 1999 8.875% per annum
November 23, 1999 to November 22, 2000 9.000% per annum
November 23, 2000 to November 22, 2001 9.125% per annum
November 23, 2001 to November 22, 2002 9.250% per annum
November 23, 2002 to November 22, 2003 9.500% per annum
November 23, 2003 to November 22, 2004 10.000% per annum
November 23, 2004 to November 22, 2005 11.000% per annum
November 23, 2005 to November 22, 2006 12.000% per annum
</TABLE>
The amount of interest payable on each Interest Payment Date will be
computed on the basis of a 360-day year consisting of twelve (12) thirty
(30) day months.
Optional Redemption.
The Company may at its option elect to redeem the Notes, in whole or in
part, on November 23, 1996 or on any Interest Payment Date thereafter (each
such date, an "Optional Redemption Date") at 100% of their principal amount
plus accrued interest to but excluding the date of redemption (the
"Redemption Date"). In the event the Company elects to redeem the Notes,
notice will be given to registered holders not more than 60 nor less than
30 days prior to the Redemption Date.
Certain Investment Considerations:
Prospective purchasers of the Notes should be aware that the Notes will pay
interest at different fixed rates each year beginning November 23, 1996
through the Stated Maturity unless earlier redeemed by the Company.
Prospective purchasers should also be aware that the Company has the option
to redeem the Notes on any Optional Redemption Date and will be likely to
elect to redeem the Notes in the event prevailing market interest rates are
lower than the then-current interest rate on the Notes.
Plan of Distribution:
The Notes are being purchased by Salomon Brothers Inc (hereinafter referred
to as the "Agent") as principal at a purchase price of 100% of the
aggregate principal amount of the Notes. The net proceeds to the Company
will be 100% of the principal amount of the Notes.
The Agent has advised the Company that the Agent proposes to offer the
Notes from time to time for sale, in negotiated transactions or otherwise,
at prices determined at time of sale. The Agent may effect such
transactions by selling Notes to or through dealers and such dealers may
receive compensation in the form of underwriting discounts, concessions or
commissions from the Agent and any purchasers of Notes (which may include
other dealers) for whom they may act as agent. The Agent and any dealers
that participate with the Agent or other dealers in the distribution of the
Notes may be deemed to be underwriters, and any discounts or commission
received by them and any profit on the resale of Notes by them may be
deemed to be underwriting compensation.
The Company has agreed to indemnify the Agent against and contribute toward
certain liabilities, including liability under the Securities Act of 1933,
as amended.
