VALERO ENERGY CORP
424B2, 1995-05-31
PETROLEUM REFINING
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Pricing Supplement dated May 23, 1995                      Rule 424(b)(2)
(To Prospectus dated March 13, 1995 and                 File No. 33-56441
Prospectus Supplement dated March 13, 1995)

                    VALERO ENERGY CORPORATION
                        Medium-Term Notes

CUSIP:                               91938XAT0
Principal Amount:                    $10,000,000.00
Price to Public:
    [X]   100% of Principal Amount
    [ ]   Varying prices relating to prevailing market prices
          at the time of sale
Interest Rate:                       7.50% per annum
Stated Maturity:                     May 31, 2001
Trade Date:                          May 23, 1995
Original Issue Date:                 May 31, 1995
Net Proceeds to Issuer:              $9,945,000.00
Agent's Discount or Commission:      0.55%

Interest Payment Dates: March 15 and September 15 of each year.

Day Count Convention:
    [ X] 30/360 for the period from Original Issue to Stated Maturity Date.
    [  ] Actual/360 for the period from                   to
    [  ] Actual/Actual for the period from                to

Redemption:
    [ X] The Notes cannot be redeemed prior to the Stated Maturity,
         except as set forth in the Prospectus and Prospectus Supplement.
    [  ] The Notes may be redeemed prior to the Stated Maturity.
         Initial Redemption Date:
         Initial Redemption Percentage:        %
         Annual Redemption Percentage Reduction:     % until Redemption
         Percentage is 100% of the principal amount.

Optional Repayment:
    [ X] The Notes cannot be repaid prior to the Stated Maturity,
         except as set forth in the Prospectus and Prospectus Supplement.
    [  ] The Notes can be repaid prior to the Stated Maturity at the
         option of the holder of the Notes.
         Optional Repayment Date(s):
         Repayment Price:         %

Currency:     U.S. dollars.

Original Issue Discount:     [   ]  Yes     [ X]  No
    Total Amount of OID:
    Yield to Maturity:
    Initial Accrual Period:
    Repurchase Price, if any:

Form:    [ X]  Book-Entry         [   ]  Certificated


[ ] Lehman Brothers Inc.
[ ] Salomon Brothers Inc
[X] BT Securities Corporation



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