Rule 424(b)(3)
File Nos. 333-66467 and 333-66467-01
PRICING SUPPLEMENT NO. 16 DATED May 24, 1999
(To Prospectus Dated November 10, 1998, as Supplemented November 10, 1998)
COUNTRYWIDE HOME LOANS, INC.
MEDIUM-TERM NOTES, SERIES H
UNCONDITIONALLY GUARANTEED BY
COUNTRYWIDE CREDIT INDUSTRIES, INC.
FIXED RATE NOTES
----------------
Trade Date: May 24, 1999 Book Entry: |X|
Issue Price: 100% Certificated: |_|
Original Issue Date: June 3, 1999 Principal Amount: $ 25,000,000
Stated Maturity Date: June 3, 2004 Net Proceeds: $ 24,875,000
Interest Rate: 6.390% Specified Currency: U.S. Dollars
Exchange Rate Agent: N/A
Agent: Lehman Brothers Inc.
Minimum Denomination: $1,000
Interest Payment Dates: June 3 and December 3, commencing December 3, 1999
Record Dates: May 19 and November 18
Redemption: Repayment:
Check box opposite applicable paragraph: Check box opposite applicable
paragraph:
|X| The Notes cannot be redeemed prior to |X| The Notes cannot be repaid prior
maturity. to maturity.
| | The Notes may be redeemed prior to |_| The Notes may be repaid prior to
maturity. maturity.
Initial Redemption Date: Optional Repayment Dates:
Initial Redemption Percentage:
Annual Redemption Percentage Reduction,
if any:
Additional/Other Terms:
