Rule 424(b)(3)
File Nos. 333-66467 and 333-66467-01
PRICING SUPPLEMENT NO. 38 DATED June 6, 2000
(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.
FLOATING RATE NOTES
-------------------
Trade Date: June 6, 2000 Book Entry: |X|
Issue Price: Variable Certificated: |_|
Original Issue Date: June 8, 2000 Principal Amount: $100,000,000
Stated Maturity Date: June 8, 2001 Net Proceeds: $ 99,950,000
Specified Currency: U.S. Dollars
Base |_| Commercial Paper Rate |X| LIBOR |_| Certificate of
Rate(s): Telerate Page 3750 Deposit Rate
|_| Treasury Rate |_| Federal Funds Rate |_| Prime Rate
|_| CMT Rate |_| Eleventh District |_| Other
Cost of Funds Rate
Exchange Rate Agent: N/A
Minimum Denomination: $1,000 Maximum Interest Rate: N/A
Initial Interest Rate: 6.69625% Minimum Interest Rate: N/A
Interest Determination Dates: Two London Interest Factor Convention: N/A
Business Days Index Maturity: One Month
prior to each Spread (plus or
Interest minus): Plus 7 basis points
Payment date
Spread Multiplier: N/A
Interest Reset Dates: Same as Interest Fixed Rate Commencement
Payment Dates Date: N/A
Interest Payment Dates: Monthly, on the Fixed Interest Rate: N/A
8th day of each
month commencing
July 8, 2000
Agent: Chase Securities Inc., as principal
Calculation Agent: The Bank of New York
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
maturity. prior to maturity.
|_| The Notes may be redeemed prior to |_| The Notes may be repaid prior
maturity. to maturity.
Initial Redemption Date: Optional Repayment Dates:
Initial Redemption Percentage:
Annual Redemption Percentage Reduction, if any:
Additional/Other Terms: N/A
-------------------
The Notes to which this Pricing Supplement relates will be
unsecured and unsubordinated indebtedness of CHL and will rank
equally with CHL's other unsecured and unsubordinated
indebtedness. As of February 29, 2000, the Guarantor did not have
any secured indebtedness outstanding and CHL had $46,152,000
aggregate principal amount of secured indebtedness outstanding.
As of that date, CHL had $8,081,216,000 aggregate principal amount of
unsecured and unsubordinated indebtedness outstanding, which
indebtedness ranked equally with CHL's other unsecured and
unsubordinated indebtedness and will rank equally with the Notes
to which this Pricing Supplement relates.
--------------
Effective June 17, 1999, CHL reduced the aggregate offering price of
the Medium-Term Notes, Series H, issuable under the medium-term note
program described in the Prospectus Supplement, dated November 10, 1998, to
the Prospectus, dated November 10, 1998, to $2,250,000,000 from
$3,000,000,000.
