Rule 424(b)(3)
File No. 33-39838
Pricing Supplement No. 0123 Dated: May 6, 1994
(To Prospectus dated July 22, 1993 and
Prospectus Supplement dated July 30, 1993)
XEROX CREDIT CORPORATION
Medium-Term Notes, Series C
Due From Nine Months to Thirty Years From Date of Issue
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General
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Principal Amount: $75,000,000
Issue Price: 100% of Principal Amount
Proceeds to Company: $75,000,000
Original Issue Date: May 13, 1994
Maturity Date: May 13, 1997
Agent(s): Lehman Brothers Inc.
Agent's Discount or Commission:
Agent's capacity: / / As Agent /X/ As Principal (see below)
If as Principal:
/X/ The Notes are being offered at varying prices related to
prevailing market prices at the time of resale.
/ / The Notes are being offered at a fixed initial public offering
price of % of Principal Amount.
Form: /X/ Book Entry / / Certificated
Authorized Denominations: $100,000.00
Integral Multiples in excess thereof: $1,000.00
Specified Currency (if other than U.S. dollars, see Attachment): U.S. dollars
Option to Elect Payment in Specified Currency: / / Yes / / No
(Applicable only if Specified Currency is other than U.S. dollars)
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Interest
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Interest Rate:
/X/ Floating Rate (see Base Rate specified below)
Base Rate(s):
/ / Commercial Paper Rate / / Federal Funds Rate
/ / CD Rate / / LIBOR (See "Other provisions" below)
/X/ Treasury Rate / / Prime Rate
/ / Other (see Attachment)
Initial Interest Rate: the rate as determined on May 10, 1994
Interest Payment Date(s): August 13, November 13, February 13 and
May 13 of each year, commencing August 13, 1994
Interest Reset Period: weekly
Interest Reset Date(s): the Business Day immediately succeeding the
day on which Treasury bills of the applicable Index Maturity are
auctioned
Spread (+/-): + 0.30%
Spread Multiplier:
Maximum Interest Rate:
Minimum Interest Rate:
Index Maturity: 3 months
Other provisions: (i) "Treasury Rate" shall mean the bond
equivalent yield of the rate for the auction held of Treasury
bills having the applicable Index Maturity, as displayed on H.15
(Telerate page 56) under the heading "Treasury Bills-Auction
Average"; (ii) the interest rate applicable to each day of the
two Interest Reset Periods immediately prior to Maturity will be
that in effect on the Interest Reset Date pertaining to each
such Interest Reset Period; (iii) the interest payable on each
Interest Payment Date or at Maturity will be the amount of
interest accrued from and including the Original Issue Date or
from and including the last Interest Payment Date to which
interest has been paid to, but excluding, such Interest Payment
Date or date of Maturity, as the case may be; and (iv) the
Calculation Agent for the Notes offered by this Pricing
Supplement shall be Lehman Special Securities Inc.
/ / Fixed Rate of:
(Applicable only if Notes are not Zero-Coupon Notes or
Amortizing Notes)
/ / Amortizing Notes:
Scheduled repayment amounts and dates in respect of the
principal and interest:
/ / Currency Indexed Notes:
Interest Rate:
Interest Payment Date(s):
Denominated Currency:
Indexed Currency or Currencies:
Face Amount:
Base Exchange Rate:
Principal Amount Determination Formula:
Other provisions:
/ / Other Indexed Notes:
Face Amount:
Interest Payment Date(s):
Principal Amount Determination Formula:
Designated Index or Indices:
Other provisions:
Optional Resets:
Option to reset interest rate: / / No / / Yes (See Attachment)
(Applicable only if the Notes are Fixed Rate Notes)
Option to reset the Spread and/or Spread Multiplier:
(Applicable only if the Notes are Floating Rate Notes)
/X/ No / / Yes (See Attachment)
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Redemption
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/X/ The Company cannot elect to redeem the Notes prior to the Maturity
Date.
/ / The Company may elect to redeem the Notes prior to the Maturity
Date (see below).
Initial Redemption Date:
Redemption Date(s):
The Redemption Price shall initially be % of the
principal amount of the Note to be redeemed and shall decline
at each anniversary of the Initial Redemption Date by
% of the principal amount to be redeemed until
the Redemption Price is 100% of such principal amount.
Other provisions:
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Early Repayment
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/X/ The Holder cannot elect to have the Notes repaid prior to the
Maturity Date
/ / The Holder may elect to have the Notes repaid prior to the
Maturity Date (see below).
Initial Redemption Date:
Repayment Date(s):
The Repayment Price shall initially be % of the
principal amount of the Note to be repaid and shall decline at
each anniversary of the Initial Repayment Date by %
of the principal amount to be repaid until the Repayment Price
is 100% of such principal amount.
Other provisions:
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Extension of Maturity
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Extension of Maturity Date by the Company:
/X/ The Maturity Date of the Notes cannot be extended by the Company
/ / The Maturity Date of the Notes may be extended by the Company
(see below)
Date(s) on which the Maturity Date may be extended by the Company:
Final Maturity Date:
Other provisions:
Extension of Maturity Date by the Holder:
/X/ The Maturity Date of the Notes cannot be extended by the Holder.
/ / The Maturity Date of the Notes may be extended by the Holder
(see below).
Date(s) on which the Maturity Date may be extended by the Holder:
Final Maturity Date:
Date(s) by which the Holder's Extension Notice must be received
by the Trustee:
Other provisions:
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Original Issue Discount
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Discount Note: /X/ No / / Yes (see below)
Total Amount of OID:
Yield to Maturity:
Initial Accrual Period OID:
Provisions relating to types of funds for payment:
/ / None / / Yes (see Attachment)
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Attachment
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None.
