RULE 424(b)(2)
REGISTRATION NO. 33-49411
PRICING SUPPLEMENT NO. 147 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 January 14, 1994
January 17, 1995
Principal Amount: $50,000,000 Maturity Date:
January 17, 1995
Issue Price (as a percentage of Regular Record Dates:
Principal Amount): 100% Fifteenth calendar day
(whether or not a
Interest Rate Base: Treasury Rate Business Day) prior to
the corresponding
Spread: Plus 20 basis points Interest Payment Date
Initial Interest Rate: Interest Reset Dates:
Treasury Rate plus 20 basis First day of each corresponding
points, with Treasury Rate Interest Reset Period,
calculated as if the Original commencing April 17, 1994
Issue Date were an Interest
Reset Date
Commission or Discount (as a
percentage of Principal
Amount): 0.50%
Interest Payment Dates: Interest Reset Period:
April 17, 1994, July 17, 1994, Quarterly, commencing with and
October 17, 1994 and January 17, including each Interest Payment
1995 Date, to, but excluding, the
immediately following Interest
Payment Date (or any such
quarterly period after the
Maturity Date)
Redemption Provisions:
None
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Index Maturity: 3 months 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.
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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 Treasury Rate plus 20 basis points.
Interest on the Notes will be calculated based on the actual
number of days elapsed over a year of 365 days (or, if any portion of
the period for which interest is being calculated falls in a leap year,
the sum of (A) the actual number of days in that portion of such period
falling in a leap year divided by 366 and (B) the actual number of days
in that portion of such period falling in a non-leap year divided by
365). The initial Calculation Agent with respect to the Notes will be
Merrill Lynch, Pierce, Fenner & Smith Incorporated.
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 that is neither a
Saturday or Sunday nor a day on which commercial banks in The City of
New York are required or authorized to be closed. 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 by the Company to Merrill Lynch & Co.,
Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") at
a discount of 0.50% of the Issue Price set forth above, for resale to
one or more investors at varying prices related to prevailing market
prices at the time of resale, to be determined by Merrill Lynch.
Merrill Lynch has been added as an Agent as of January 6, 1994.
Dated: January 7, 1994.
