Rule 424(b)(3)
File Nos. 333-3835 and 333-3835-01
PRICING SUPPLEMENT NO. 26 DATED MAY 6, 1997
(To Prospectus Dated April 23, 1997, as Supplemented April 23, 1997)
COUNTRYWIDE HOME LOANS, INC.
MEDIUM-TERM NOTES, SERIES E
DUE NINE MONTHS OR MORE FROM DATE OF ISSUE
PAYMENT OF PRINCIPAL, PREMIUM, IF ANY,
AND INTEREST FULLY AND UNCONDITIONALLY GUARANTEED BY
COUNTRYWIDE CREDIT INDUSTRIES, INC.
FIXED RATE NOTES
------------
Trade Date: May 6, 1997 Book Entry: [X]
Issue Price: 100% Certificated: [ ]
Original Issue Date: May 9, 1997 Principal Amount: $34,000,000
Stated Maturity Date: May 10, 2004 Net Proceeds: $33,796,000
Interest Rate: 7.26% Specified Currency: U.S. Dollars
Exchange Rate Agent: N/A
Agent: Lehman Brothers Inc.
Minimum Denomination: $100,000
Interest Payment Dates: May 15 and November 15, commencing November 15, 1997
Record Dates: April 30 and October 31
Redemption: Repayment:
Check box opposite applicable Check box opposite applicable
paragraph: paragraph:
[X] The Notes cannot be redeemed [X] The Notes cannot be repaid
prior to maturity prior to maturity.
[ ] The Notes may be redeemed [ ] The Notes may be repaid
prior to maturity. prior to maturity.
Initial Redemption Date: Optional Repayment Dates:
Annual Redemption Percentage
Reduction, if any:
Additional/Other Terms: N/A
----------------
The Notes to which this Pricing Supplement relates will constitute
unsecured and unsubordinated indebtedness of CHL and will rank PARI PASSU
in right of payment with CHL's other unsecured and unsubordinated
indebtedness. As of November 30, 1996, the Guarantor did not have any
secured indebtedness outstanding, and CHL had $340,849,000 aggregate
principal amount of secured indebtedness outstanding. As of such date, CHL
had $5,526,615,000 aggregate principal amount of unsecured and
unsubordinated indebtedness outstanding, which indebtedness ranked PARI
PASSU in right of payment with CHL's other unsecured and unsubordinated
indebtedness and will rank PARI PASSU in right of payment with the Notes to
which this Pricing Supplement relates.
PRICING SUPPLEMENT NO. 27 DATED MAY 6, 1997
(To Prospectus Dated April 23, 1997, as Supplemented April 23, 1997)
COUNTRYWIDE HOME LOANS, INC.
MEDIUM-TERM NOTES, SERIES E
DUE NINE MONTHS OR MORE FROM DATE OF ISSUE
PAYMENT OF PRINCIPAL, PREMIUM, IF ANY,
AND INTEREST FULLY AND UNCONDITIONALLY GUARANTEED BY
COUNTRYWIDE CREDIT INDUSTRIES, INC.
FIXED RATE NOTES
----------------
Trade Date: May 6, 1997 Book Entry: [X]
Issue Price: 100% Certificated: [ ]
Original Issue Date: May 9, 1997 Principal Amount: $33,000,000
Stated Maturity Date: May 10, 2004 Net Proceeds: $32,802,000
Interest Rate: 7.26% Specified Currency: U.S. Dollars
Exchange Rate Agent: N/A
Agent: NationsBanc Capital Markets, Inc.
Minimum Denomination: $100,000
Interest Payment Dates: May 15 and November 15, commencing November 15, 1997
Record Dates: April 30 and October 31
Redemption: Repayment:
Check box opposite applicable Check box opposite applicable
paragraph: paragraph:
[X] The Notes cannot be redeemed [X] The Notes cannot be repaid
prior to maturity prior to maturity.
[ ] The Notes may be redeemed [ ] The Notes may be repaid
prior to maturity. prior to maturity.
Initial Redemption Date: Optional Repayment Dates:
Annual Redemption Percentage
Reduction, if any:
Additional/Other Terms: N/A
----------------
The Notes to which this Pricing Supplement relates will constitute
unsecured and unsubordinated indebtedness of CHL and will rank PARI PASSU
in right of payment with CHL's other unsecured and unsubordinated
indebtedness. As of November 30, 1996, the Guarantor did not have any
secured indebtedness outstanding, and CHL had $340,849,000 aggregate
principal amount of secured indebtedness outstanding. As of such date, CHL
had $5,526,615,000 aggregate principal amount of unsecured and
unsubordinated indebtedness outstanding, which indebtedness ranked PARI
PASSU in right of payment with CHL's other unsecured and unsubordinated
indebtedness and will rank PARI PASSU in right of payment with the Notes to
which this Pricing Supplement relates.
PRICING SUPPLEMENT NO. 28 DATED MAY 6, 1997
(To Prospectus Dated April 23, 1997, as Supplemented April 23, 1997)
COUNTRYWIDE HOME LOANS, INC.
MEDIUM-TERM NOTES, SERIES E
DUE NINE MONTHS OR MORE FROM DATE OF ISSUE
PAYMENT OF PRINCIPAL, PREMIUM, IF ANY,
AND INTEREST FULLY AND UNCONDITIONALLY GUARANTEED BY
COUNTRYWIDE CREDIT INDUSTRIES, INC.
FIXED RATE NOTES
----------------
Trade Date: May 6, 1997 Book Entry: [X]
Issue Price: 100% Certificated: [ ]
Original Issue Date: May 9, 1997 Principal Amount: $33,000,000
Stated Maturity Date: May 10, 2004 Net Proceeds: $32,802,000
Interest Rate: 7.26% Specified Currency: U.S. Dollars
Exchange Rate Agent: N/A
Agent: Goldman, Sachs & Co.
Minimum Denomination: $100,000
Interest Payment Dates: May 15 and November 15, commencing November 15, 1997
Record Dates: April 30 and October 31
Redemption: Repayment:
Check box opposite applicable Check box opposite applicable
paragraph: paragraph:
[X] The Notes cannot be redeemed [X] The Notes cannot be repaid
prior to maturity prior to maturity.
[ ] The Notes may be redeemed [ ] The Notes may be repaid
prior to maturity. prior to maturity.
Initial Redemption Date: Optional Repayment Dates:
Annual Redemption Percentage
Reduction, if any:
Additional/Other Terms: N/A
----------------
The Notes to which this Pricing Supplement relates will constitute
unsecured and unsubordinated indebtedness of CHL and will rank PARI PASSU
in right of payment with CHL's other unsecured and unsubordinated
indebtedness. As of November 30, 1996, the Guarantor did not have any
secured indebtedness outstanding, and CHL had $340,849,000 aggregate
principal amount of secured indebtedness outstanding. As of such date, CHL
had $5,526,615,000 aggregate principal amount of unsecured and
unsubordinated indebtedness outstanding, which indebtedness ranked PARI
PASSU in right of payment with CHL's other unsecured and unsubordinated
indebtedness and will rank PARI PASSU in right of payment with the Notes to
which this Pricing Supplement relates.
PRICING SUPPLEMENT NO. 29 DATED MAY 6, 1997
(To Prospectus Dated April 23, 1997, as Supplemented April 23, 1997)
COUNTRYWIDE HOME LOANS, INC.
MEDIUM-TERM NOTES, SERIES E
DUE NINE MONTHS OR MORE FROM DATE OF ISSUE
PAYMENT OF PRINCIPAL, PREMIUM, IF ANY,
AND INTEREST FULLY AND UNCONDITIONALLY GUARANTEED BY
COUNTRYWIDE CREDIT INDUSTRIES, INC.
FIXED RATE NOTES
----------------
Trade Date: May 6, 1997 Book Entry: [X]
Issue Price: 100% Certificated: [ ]
Original Issue Date: May 9, 1997 Principal Amount: $33,000,000
Stated Maturity Date: May 10, 2004 Net Proceeds: $32,802,000
Interest Rate: 7.26% Specified Currency: U.S. Dollars
Exchange Rate Agent: N/A
Agent: Salomon Brothers Inc
Minimum Denomination: $100,000
Interest Payment Dates: May 15 and November 15, commencing November 15, 1997
Record Dates: April 30 and October 31
Redemption: Repayment:
Check box opposite applicable Check box opposite applicable
paragraph: paragraph:
[X] The Notes cannot be redeemed [X] The Notes cannot be repaid
prior to maturity prior to maturity.
[ ] The Notes may be redeemed [ ] The Notes may be repaid
prior to maturity. prior to maturity.
Initial Redemption Date: Optional Repayment Dates:
Annual Redemption Percentage
Reduction, if any:
Additional/Other Terms: N/A
----------------
The Notes to which this Pricing Supplement relates will constitute
unsecured and unsubordinated indebtedness of CHL and will rank PARI PASSU
in right of payment with CHL's other unsecured and unsubordinated
indebtedness. As of November 30, 1996, the Guarantor did not have any
secured indebtedness outstanding, and CHL had $340,849,000 aggregate
principal amount of secured indebtedness outstanding. As of such date, CHL
had $5,526,615,000 aggregate principal amount of unsecured and
unsubordinated indebtedness outstanding, which indebtedness ranked PARI
PASSU in right of payment with CHL's other unsecured and unsubordinated
indebtedness and will rank PARI PASSU in right of payment with the Notes to
which this Pricing Supplement relates.
PRICING SUPPLEMENT NO. 30 DATED MAY 6, 1997
(To Prospectus Dated April 23, 1997, as Supplemented April 23, 1997)
COUNTRYWIDE HOME LOANS, INC.
MEDIUM-TERM NOTES, SERIES E
DUE NINE MONTHS OR MORE FROM DATE OF ISSUE
PAYMENT OF PRINCIPAL, PREMIUM, IF ANY,
AND INTEREST FULLY AND UNCONDITIONALLY GUARANTEED BY
COUNTRYWIDE CREDIT INDUSTRIES, INC.
FIXED RATE NOTES
----------------
Trade Date: May 6, 1997 Book Entry: [X]
Issue Price: 100% Certificated: [ ]
Original Issue Date: May 9, 1997 Principal Amount: $34,000,000
Stated Maturity Date: May 10, 2004 Net Proceeds: $33,796,000
Interest Rate: 7.26% Specified Currency: U.S. Dollars
Exchange Rate Agent: N/A
Agent: J.P. Morgan Securities Inc.
Minimum Denomination: $100,000
Interest Payment Dates: May 15 and November 15, commencing November 15, 1997
Record Dates: April 30 and October 31
Redemption: Repayment:
Check box opposite applicable Check box opposite applicable
paragraph: paragraph:
[X] The Notes cannot be redeemed [X] The Notes cannot be repaid
prior to maturity prior to maturity.
[ ] The Notes may be redeemed [ ] The Notes may be repaid
prior to maturity. prior to maturity.
Initial Redemption Date: Optional Repayment Dates:
Annual Redemption Percentage
Reduction, if any:
Additional/Other Terms: N/A
----------------
The Notes to which this Pricing Supplement relates will constitute
unsecured and unsubordinated indebtedness of CHL and will rank PARI PASSU
in right of payment with CHL's other unsecured and unsubordinated
indebtedness. As of November 30, 1996, the Guarantor did not have any
secured indebtedness outstanding, and CHL had $340,849,000 aggregate
principal amount of secured indebtedness outstanding. As of such date, CHL
had $5,526,615,000 aggregate principal amount of unsecured and
unsubordinated indebtedness outstanding, which indebtedness ranked PARI
PASSU in right of payment with CHL's other unsecured and unsubordinated
indebtedness and will rank PARI PASSU in right of payment with the Notes to
which this Pricing Supplement relates.
PRICING SUPPLEMENT NO. 31 DATED MAY 6, 1997
(To Prospectus Dated April 23, 1997, as Supplemented April 23, 1997)
COUNTRYWIDE HOME LOANS, INC.
MEDIUM-TERM NOTES, SERIES E
DUE NINE MONTHS OR MORE FROM DATE OF ISSUE
PAYMENT OF PRINCIPAL, PREMIUM, IF ANY,
AND INTEREST FULLY AND UNCONDITIONALLY GUARANTEED BY
COUNTRYWIDE CREDIT INDUSTRIES, INC.
FIXED RATE NOTES
----------------
Trade Date: May 6, 1997 Book Entry: [X]
Issue Price: 100% Certificated: [ ]
Original Issue Date: May 9, 1997 Principal Amount: $15,000,000
Stated Maturity Date: May 10, 2004 Net Proceeds: $14,910,000
Interest Rate: 7.26% Specified Currency: U.S. Dollars
Exchange Rate Agent: N/A
Agent: Countrywide Securities Corporation
Minimum Denomination: $100,000
Interest Payment Dates: May 15 and November 15, commencing November 15, 1997
Record Dates: April 30 and October 31
Redemption: Repayment:
Check box opposite applicable Check box opposite applicable
paragraph: paragraph:
[X] The Notes cannot be redeemed [X] The Notes cannot be repaid
prior to maturity prior to maturity.
[ ] The Notes may be redeemed [ ] The Notes may be repaid
prior to maturity. prior to maturity.
Initial Redemption Date: Optional Repayment Dates:
Annual Redemption Percentage
Reduction, if any:
Additional/Other Terms: N/A
----------------
The Notes to which this Pricing Supplement relates will constitute
unsecured and unsubordinated indebtedness of CHL and will rank PARI PASSU
in right of payment with CHL's other unsecured and unsubordinated
indebtedness. As of November 30, 1996, the Guarantor did not have any
secured indebtedness outstanding, and CHL had $340,849,000 aggregate
principal amount of secured indebtedness outstanding. As of such date, CHL
had $5,526,615,000 aggregate principal amount of unsecured and
unsubordinated indebtedness outstanding, which indebtedness ranked PARI
PASSU in right of payment with CHL's other unsecured and unsubordinated
indebtedness and will rank PARI PASSU in right of payment with the Notes to
which this Pricing Supplement relates.
PRICING SUPPLEMENT NO. 32 DATED MAY 6, 1997
(To Prospectus Dated April 23, 1997, as Supplemented April 23, 1997)
COUNTRYWIDE HOME LOANS, INC.
MEDIUM-TERM NOTES, SERIES E
DUE NINE MONTHS OR MORE FROM DATE OF ISSUE
PAYMENT OF PRINCIPAL, PREMIUM, IF ANY,
AND INTEREST FULLY AND UNCONDITIONALLY GUARANTEED BY
COUNTRYWIDE CREDIT INDUSTRIES, INC.
FIXED RATE NOTES
----------------
Trade Date: May 6, 1997 Book Entry: [X]
Issue Price: 100% Certificated: [ ]
Original Issue Date: May 9, 1997 Principal Amount: $33,000,000
Stated Maturity Date: May 10, 2004 Net Proceeds: $32,802,000
Interest Rate: 7.26% Specified Currency: U.S. Dollars
Exchange Rate Agent: N/A
Agent: Merrill Lynch & Co.
Minimum Denomination: $100,000
Interest Payment Dates: May 15 and November 15, commencing November 15, 1997
Record Dates: April 30 and October 31
Redemption: Repayment:
Check box opposite applicable Check box opposite applicable
paragraph: paragraph:
[X] The Notes cannot be redeemed [X] The Notes cannot be repaid
prior to maturity prior to maturity.
[ ] The Notes may be redeemed [ ] The Notes may be repaid
prior to maturity. prior to maturity.
Initial Redemption Date: Optional Repayment Dates:
Annual Redemption Percentage
Reduction, if any:
Additional/Other Terms: N/A
----------------
The Notes to which this Pricing Supplement relates will constitute
unsecured and unsubordinated indebtedness of CHL and will rank PARI PASSU
in right of payment with CHL's other unsecured and unsubordinated
indebtedness. As of November 30, 1996, the Guarantor did not have any
secured indebtedness outstanding, and CHL had $340,849,000 aggregate
principal amount of secured indebtedness outstanding. As of such date, CHL
had $5,526,615,000 aggregate principal amount of unsecured and
unsubordinated indebtedness outstanding, which indebtedness ranked PARI
PASSU in right of payment with CHL's other unsecured and unsubordinated
indebtedness and will rank PARI PASSU in right of payment with the Notes to
which this Pricing Supplement relates.
