Filed Pursuant to Rule 424(b)(3)
Registration Nos. 33-55787 and 33-64179
PRICING SUPPLEMENT NO. 24, dated July 9, 1997
(To Prospectus dated January 23, 1997, and
Prospectus Supplement dated June 9, 1997)
(CUSIP No. 17120Q ZH7)
$2,500,000,000
Chrysler Financial Corporation
Medium-Term Notes, Series Q
Floating Rate Notes
Due 9 Months or More From Date of Issue
Principal Amount: $55,000,000
Issue Price: 100%
Calculation Agent: First Trust of New York, National Association
Original Issue Date: July 16, 1997
Stated Maturity: July 17, 2000
Initial Interest Rate: to be determined on July 14, 1997
Specified Currency: U.S. Dollars
(If other than U.S. Dollars, see attachment hereto)
Option to Receive Payments in Specified Currency: [ ] Yes [ ] No
(Applicable only if Specified Currency is other than U.S. Dollars)
Authorized Denominations:
(Applicable only if Specified Currency is other than U.S. Dollars)
Base Rate:
[ ] Commercial Paper Rate [ ] LIBOR [ ] Treasury Rate [ ] CD Rate
[ ] Federal Funds Rate [ ] Prime Rate [X] Other (see attachment
hereto)
if LIBOR, Designated Page: [ ] Reuters Page [ ] Telerate Page
if LIBOR, Index Currency: U.S. Dollars
Interest Reset Period: quarterly
Interest Reset Dates: two Business Days before the following
Interest Payment Dates
Interest Payment Period: quarterly
Interest Payment Dates: the 17th day of January, April, July and October,
commencing October 17, 1997
Index Maturity: two years
Spread (+/-): +.02
Spread Multiplier: n/a
Maximum Interest Rate: n/a
Minimum Interest Rate: n/a
Redemption: [X] The Notes cannot be redeemed prior to maturity.
[ ] The Notes may be redeemed prior to maturity.
Initial Redemption Date:
The Redemption Price shall initially be % of the principal amount of the
Notes to be redeemed and shall decline at each anniversary of the initial
Redemption Date by % of the principal amount to be redeemed until the
Redemption Price is 100% of such principal amount.
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Repayment: [X] The Notes cannot be repaid prior to maturity.
[ ] The Notes can be repaid prior to maturity at the option of
the holder of the Notes.
Optional Repayment Date(s):
Repayment Price:
Discount Notes: [ ] Yes [X] No
Total Amount of OID:
Yield to Maturity:
Initial Accrual Period OID:
Agent's Discount or Commission: .250%
Agent's Capacity: [X] Agent [ ] Principal
Net proceeds to Company (if sale to Agent as principal):
Agent: [ ] Merrill Lynch & Co. [ ] Salomon Brothers Inc
[ ] J.P. Morgan & Co. [X] Other: Chase Securities Inc.
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Attachment to Pricing Supplement No. 24
dated July 9, 1997
Base Rate: Daily Treasury Constant Maturities ("CMT")
Index Maturity: 2-year
Each Note will bear interest for each Interest Reset Period at the interest
rate equal to the 2-year CMT plus .02%.
Determination of the 2-Year CMT: For each Interest Reset Period, the 2-Year
CMT shall be the Treasury Rate displayed on Telerate page 7051 (or such other
page as may replace the 7051 page on that service ("Telerate Page 7051")) for
the Determination Date (defined below) under the heading "Daily Treasury
Constant Maturities ... Federal Reserve Board Release H.15...Approximately
3:45 p.m. EST...2 YR." If such rate is no longer displayed, then the 2-Year
CMT for such Interest Reset Period will be such 2-Year Treasury Constant
Maturity rate or other 2-Year United States Treasury rate that the
Calculation Agent determines to be comparable to the rate formerly displayed
on Telerate Page 7051 for the Determination Date with respect to such
Interest Reset Period as may then be published in the Federal Reserve Board
Statistical Release H.15 (519) by either the Board of Governors of the
Federal Reserve System or the United States Department of the Treasury. If
such rates are not available, then the 2-Year CMT for the Interest Reset
Period will be calculated by the Calculation Agent and will be a yield to
maturity, based on the arithmetic mean of the secondary market closing
mid-market prices as of approximately 3:30 p.m. (New York City time) on the
Determination Date reported, according to their written records, by five
leading primary United States government securities dealers (each, a
"Reference Dealer") in The City of New York selected by the Calculation
Agent, for the most recently issued direct noncallable fixed rate obligations
of the United States ("Treasury Note") with an original maturity of
approximately 2 years and a remaining term to maturity of not less than one
year, eliminating the highest and lowest quotes and averaging the remaining
three (or, in the event of equality, one of the highest or one of the lowest,
as the case may be). If the Calculation Agent cannot obtain five such
Treasury Note quotations, the 2-Year CMT for such Reset Date will be
calculated by the Calculation Agent and will be a yield to maturity based on
the arithmetic mean of the secondary market mid-market prices as of
approximately 3:30 p.m. (New York City time) on the Determination Date of
three Reference Dealers in the City of New York with an original maturity of
greater than 2 years and a remaining term to maturity closest to two years.
If the Treasury Notes with an original maturity of greater than 2 years have
remaining terms to maturity equally close to two years, the quotes for the
Treasury Note with an original term to mturity closest to two years will be
used. If fewer than three Reference Dealers selected by the Calculation Agent
are quoting, the 2-Year CMT will be the same as the 2-Year CMT in effect on
such Determination Date.
"Determination Date" means the day that is two New York Business Days
prior to the Interest Reset Date which constitutes the first day of the
relevant Interest Reset Period.
