LEE SARA CORP
424B3, 1996-09-06
FOOD AND KINDRED PRODUCTS
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<PAGE>   1
                                                       Rule 424(b)(3)
                                                       Registration No. 33-60071

Pricing Supplement No. 21  Dated  September 4, 1996
                       --         ------------
TO PROSPECTUS DATED JULY 14, 1995 AND PROSPECTUS SUPPLEMENT DATED JULY 19, 1995

                             Sara Lee Corporation
                         Medium-Term Notes, Series C
                                 (Fixed Rate)
<TABLE>
- -----------------------------------------------------------------------------------------------------------------------------------
<S>                                                                    <C>
Principal Amount:               $17,000,000                                         Issue Date:          September 9, 1996
Issue Price:                    99.759%                                             Stated Maturity:     September 9, 1999
Commission of Selling Agents:   NIL                                                 Specified Currency:  U.S.  Dollars
Net Proceeds to Issuer:         $16,959,030                                         Form  X    Global 
Interest Rate:                  6.70%                                                    --- 
Selling Agents:                 Solomon Brothers                                         ---    Certificated        
Trade Date:                     September 4, 1996                                       
- -----------------------------------------------------------------------------------------------------------------------------------
Interest Payment Dates:                                                             Amortizing Notes:
                                                                                         Yes             
 X      As specified in Prospectus Supplement                                        --- 
- ---     Other (specify) ______________________                                        X  No

Regular Record Date:                                                                 ---
                                                                                    Each payment of principal of, and interest on, 
 X      As specified in Prospectus Supplement                                       the Notes will be made:
- ---     Other (specify)  ____________________
Original Issue Discount Rate:                                                                         Quarterly
                                                                                                ---
      Yes  X No                                                                                  X    Semiannually
  ---     ---                                                                                   ---
Original Issue Discount :  __________________%                                                  ---   Other (specify)_________
Yield to Maturity: __________________________%                                                                                   
Repurchaase Price (for Discount Securities):                                        Interest rate may be reset:                
                                                                                                                   Yes   X     No
Other Provisions:                                                                       Terms of reset:        ----     ----   
                                                                                                               
                                                                                    Redemption Information:
                                                                                     
                                                                                    Repayment Information:
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
The aggregate principal amount of this offering is U.S. $17, 000,000 and relates only to Pricing Supplement No. 21.  Medium-Term
Notes, Series C, may be issued by the Company in the aggregate principal amount of up to U.S. $500,000,000 or the equivalent in
foreign currency units.  To date, including this offering, an aggregate of U.S. $282,000,000 or the equivalent in foreign currency
or foreign currency units of Medium-Term Notes, Series C, have been issued.
- ------------------------------------------------------------------------------------------------------------------------------------
<S>                                        <C>
    TYPE OF SALE
                                                    IF PRINCIPAL TRANSACTION, REOFFERING AT:
                                             X
- ----   As Agent                             ---  varying prices related to prevailing market prices at the time of resale 
  X                                         ---  fixed public offering prices of _____% of Principal Amount
- ----   As Principal
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>


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