RULE 424(b)(2)
REGISTRATION NO. 33-49411
PRICING SUPPLEMENT NO. 16 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 April 14, 1994
April 14, 1997
Principal Amount: $100,000,000 Maturity Date:
April 14, 1997
Issue Price (as a percentage of Regular Record Dates:
Principal Amount): 100% Fifteenth calendar day
(whether or not a
Business Day) prior to
the corresponding
Interest Payment Date
Interest Rate Base: LIBOR
Spread: Plus 30 basis points
Designated LIBOR Page: Telerate
Page 3750
Initial Interest Rate: LIBOR plus
30 basis points, calculated as
if the Original Issue Date were
an Interest Reset Date
Commission or Discount (as a Interest Reset Dates:
percentage of Principal First day of each
Amount): 0.00% corresponding Interest
Reset Period, commencing
July 14, 1994
Interest Payment Dates: Interest Reset Period:
Each January 14, April 14, Quarterly, commencing with and
July 14 and October 14, including each Interest Payment
commencing July 14, 1994 and Date, to, but excluding, the
ending on the Maturity Date immediately following Interest
Payment Date (or any such
quarterly period after the
Maturity Date)
Redemption Provisions:
The Notes are redeemable at the
option of the Company on
October 16, 1995
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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.
<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
LIBOR (with an Index Maturity of 3 months) plus a Spread of 30
basis points.
Interest on the Notes will be calculated based on a
year of 360 days and the actual number of days in the period
for which interest is being calculated. The initial
Calculation Agent with respect to the Notes will be Bear
Stearns Capital Markets Inc.
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,
unless that day falls in the next calendar month, in which
case such date will be advanced to the first preceding day
that is a Business Day. Capitalized terms used but not
defined herein have the meanings assigned in the accompanying
Prospectus Supplement and Prospectus.
REDEMPTION
The Notes are redeemable by the Company on October
16, 1995, in whole and not in part, on at least 30-days prior
notice at a redemption price of 100% of principal amount
thereof plus accrued interest thereon to the date of
redemption.
PLAN OF DISTRIBUTION
The Notes will be sold by the Company to Bear,
Stearns & Co. Inc. ("Bear Stearns") for resale to one or more
investors at varying prices related to prevailing market
prices at the time of resale, to be determined by Bear
Stearns.
Dated: April 7, 1994.
