Filed Pursuant to Rule 424(b)(3)
Registration Statement Nos. 33-50385, 33-52421 and 33-55787
PRICING SUPPLEMENT NO. 51, dated February 8, 1995
(To Prospectus dated November 1, 1994 and
Prospectus Supplement dated December 6, 1994)
$1,500,000,000
Chrysler Financial Corporation
Medium-Term Notes, Series N
Due 9 Months or More From Date of Issue
Principal Amount: $25,000,000
Trade Date: February 8, 1995
Original Issue Date: March 8, 1995
Stated Maturity: March 16, 2002 (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
8.00% for the period from the original issue
date up to but excluding March 16, 1996;
thereafter, the interest rate on the Notes
will reset annually on each March 16 in
accordance with the schedule set forth under
"Additional Terms - Interest" below.
Interest Payment Dates: Each March 16 and September 16, commencing on
September 16, 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:
<PAGE>
Page 2
POTENTIAL PURCHASERS OF THE NOTES ARE URGED TO READ THIS PRICING SUPPLEMENT
THOROUGHLY TOGETHER WITH THE ACCOMPANYING PROSPECTUS, DATED NOVEMBER 1, 1994,
AND PROSPECTUS SUPPLEMENT, DATED DECEMBER 6, 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.
Additional Terms:
Interest.
Interest on the Notes will accrue from March 8, 1995 and will be payable
in U.S. dollars semiannually on each March 16 and September 16,
commencing September 16, 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 8.00% per annum from and including the Original Issue
Date up to but excluding March 16, 1996. Thereafter, the interest rate
will be subject to adjustment annually on each March 16 in accordance
with the following schedule:
<TABLE>
<CAPTION>
Interest Period Interest Rate
<S> <C>
March 16, 1996 to March 15, 1997 8.10% per annum
March 16, 1997 to March 15, 1998 8.20% per annum
March 16, 1998 to March 15, 1999 8.30% per annum
March 16, 1999 to March 15, 2000 8.40% per annum
March 16, 2000 to March 15, 2001 8.50% per annum
March 16, 2001 to March 15, 2002 8.75% 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 March 16, 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 March 16, 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 (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.
<PAGE>
Page 3
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.
