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Rule 424(b)(3)
File No. 33-39838
Pricing Supplement No. 0119 Dated: March 10, 1994 Page 1 of 5
(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: $30,000,000
Original Issue Date: March 18, 1994
Issue Price: 100% of Principal Amount
Maturity Date: March 18, 1996
Proceeds to Company: $30,000,000
Agent(s): The First National Bank of Chicago
Agent's Discount or Commission:
Agent's capacity: /X/ As Agent / / As Principal (see below)
If as Principal:
/ / 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.
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XEROX CREDIT CORPORATION
MEDIUM-TERM NOTES, SERIES C
Pricing Supplement No. 0119 Dated: March 10, 1994 Page 2 of 5
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 /X/ LIBOR (See "Other provisions" below)
/ / Treasury Rate / / Prime Rate
/ / Other (see Attachment)
Initial Interest Rate: The interest rate as determined in accordance
with clause (i) of "Other provisions" below; except that, for
purposes of determining the Initial Interest Rate, the "Interest
Determination Date" shall be the second London Business Day next
preceding the Original Issue Date, and the "Interest Reset Date"
shall be the Original Issue Date.
Interest Payment Date(s): The 18th day of June, September, December
and March of each year
Calculation Date (if other than as provided in the Prospectus
Supplement):
Interest Reset Period: Quarterly
Interest Reset Date(s): Interest Payment Date(s)
Spread (+/-): See "Other provisions" below
Spread Multiplier:
Maximum Interest Rate:
Minimum Interest Rate: 2% per annum
Index Maturity: 3-Month LIBOR
Other provisions: (i) The interest rate as determined with respect
to the Interest Determination Date pertaining to any Interest
Reset Date shall be (a) the sum of LIBOR in effect on such
Interest Determination Date, plus 0.10% per annum, if LIBOR on
such date is equal to or less than 4.75% per annum, (b) the sum
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XEROX CREDIT CORPORATION
MEDIUM-TERM NOTES, SERIES C
Pricing Supplement No. 0119 Dated: March 10, 1994 Page 3 of 5
of (1) the product of (x) LIBOR in effect on such Interest
Determination Date, multiplied by (y) numeral 2, minus (2) 4.65%
per annum, if LIBOR on such date is greater than 4.75% per annum
and equal to or less than 5.75% per annum, or (c) the sum of (1)
52.85% per annum, minus (2) the product of (x) LIBOR in effect on
such Interest Determination Date, multiplied by (y) numeral 8, if
LIBOR on such date is greater than 5.75% per annum; and (ii) the
Calculation Agent shall be The First National Bank of Chicago.
/ / 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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XEROX CREDIT CORPORATION
MEDIUM-TERM NOTES, SERIES C
Pricing Supplement No. 0119 Dated: March 10, 1994 Page 4 of 5
/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:
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XEROX CREDIT CORPORATION
MEDIUM-TERM NOTES, SERIES C
Pricing Supplement No. 0119 Dated: March 10, 1994 Page 5 of 5
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.
