RULE 424(b)(2)
REGISTRATION NO. 33-49411
PRICING SUPPLEMENT NO. 59 TO PROSPECTUS DATED APRIL 16, 1993
(As supplemented August 17, 1993)
IBM CREDIT CORPORATION
MEDIUM-TERM NOTES
(Floating Rate Note)
(Due from 9 months to 30 years from date of issue)
Designation: Floating Rate Original Issue Date:
Medium-Term Notes Due October 11, 1994
October 12, 1995
Principal Amount: $50,000,000 Maturity Date:
October 12, 1995
Issue Price (as a percentage of Regular Record Dates:
Principal Amount): 100% Fifteenth calendar day
(whether or not a
CUSIP: 44922L P67 Business Day) prior to
the corresponding
Interest Payment Date
Interest Rate Base: Commercial Paper Interest Determination Dates:
Second Business Day preceding
the Original Issue Date and each
relevant Interest Reset Date
Spread: Minus 7 basis points
Initial Interest Rate: Commercial
Paper Rate minus 7 basis points
Commission or Discount (as a Interest Reset Dates:
percentage of Principal October 12, 1994 and each
Amount): 0.02% Business Day thereafter,
through the Maturity Date
Interest Payment Dates: Interest Reset Period:
The twelfth day of each calendar Daily, commencing with and
month, commencing November 12, 1994, including each Interest Reset
and ending on the Maturity Date Date, to, but excluding, the
immediately following Interest
Reset Date (or any such
daily period after the
Maturity Date)
Redemption Provisions:
None
<PAGE>2
Index Maturity: 1 month Form: [X] Book-Entry
[ ] Certificated
This Pricing Supplement supplements and, to the extent
inconsistent therewith, amends the description of the Notes referred to
above in the accompanying Prospectus Supplement and Prospectus.
<PAGE>3
INTEREST
The Notes will bear interest at a rate reset on the Interest
Reset Dates specified above. The interest rate in effect from the
Original Issue Date to the first Interest Reset Date with respect to the
Notes will be the Initial Interest Rate. Thereafter, the interest rate
per annum on the Notes for each Interest Reset Period will be determined
as the Commercial Paper Rate minus a Spread of 7 basis points.
Interest on the Notes will be calculated based on the
actual number of days elapsed over a year of 360 days. The initial
Calculation Agent with respect to the Notes will be The Chase Manhattan
Bank (National Association).
If any Interest Payment Date or any Interest Reset Date would
otherwise be a day that is not a Business Day, such date will be
postponed to the next day that is a Business Day. For purposes of the
offering made hereby, "Business Day" as used herein and in the
accompanying Prospectus Supplement means any day on which commercial
banks and foreign exchange markets settle payments in The City of New
York. Capitalized terms used but not defined herein have the meanings
assigned in the accompanying Prospectus Supplement and Prospectus.
PLAN OF DISTRIBUTION
The Notes will be sold to Morgan Stanley & Co. Incorporated for
resale to one or more investors at the Issue Price set forth above.
After the initial offering of the Notes, the public offering price and
any concession or discount may be changed.
Dated: October 3, 1994.
