RULE 424(b)(2)
REGISTRATION NO. 33-56207
PRICING SUPPLEMENT NO. 49 TO PROSPECTUS DATED NOVEMBER 3, 1994
(As supplemented November 17, 1994)
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 2, 1996 October 2, 1995
Principal Amount: $50,000,000 Maturity Date:
October 2, 1996
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 Interest Payment Date:
October 2, 1996, the
Designated LIBOR Page: Telerate Maturity Date
Page 3750
Spread: Plus 4 basis points
Initial Interest Rate: 5.95% Interest Reset Dates:
January 2, 1996, April
2, 1996 and July 2, 1996
Interest Reset Period:
Quarterly, commencing
with and including each
Maximum Interest Rate: 5.95% Interest Reset Date, to,
but excluding, the
Redemption Provisions: None immediately following
Interest Reset Date
Commission or Discount (as a percentage CUSIP: 44922L W77
of Principal Amount): 0.02%
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>
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 plus a spread of 4 basis points, subject to the
Maximum Interest Rate of 5.95%.
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 Morgan Stanley &
Co. 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, 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. 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 which also is a London Banking Day. 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 a fixed public offering price.
After the initial public offering of the Notes, the public offering
price and any concession or discount may be changed.
Dated: September 22, 1995
