RULE 424(b)(3)
REGISTRATION NO. 333-06335
PRICING SUPPLEMENT NO. 24 TO PROSPECTUS DATED July 30, 1996
(As supplemented August 8, 1996)
IBM CREDIT CORPORATION
MEDIUM-TERM NOTES
(Fixed Rate Note)
(Due One Year or More from Date of Issue)
Designation: Fixed Rate Original Issue Date:
Medium-Term Notes Due February 28, 1997
March 1, 2007
Principal Amount: $25,000,000 Maturity Date:
March 1, 2007
Issue Price (as a percentage of the Regular Record Dates:
Principal Amount): see below The 15th day of each month, whether
or not a Business Day, immediately
preceding the corresponding Interest
Payment Date
Interest Rate: 6.67% Per Annum Interest Payment Dates:
The 1st of each month, commencing
April 1, 1997 and ending on the
Maturity Date with no adjustment
for period end dates.
Commission or discount (as CUSIP: 449 22L 3E4
a percentage of Principal
Amount): 1.70%
Form: [X] Book-Entry
[ ] Certified
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
Interest on the Notes will be calculated based on a year of 360 days
consisting of 12 months of 30 days each.
If any payment of principal or interest is due on a day that is not a
Business Day, that payment may be made on the next succeeding Business Day.
No additional interest will accrue as a result of the delay in payment.
For purposes of the offering made hereby, "Business Day" as used herein and
in the accompanying Prospectus Supplement means each 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 Prospestus Supplement and Prospectus.
REDEMPTION
The Notes are redeemable by the Company on each March 1st and
September 1st Interest Payment Date occuring on or after the March 1, 2000
Interest Payment Date, in whole but not in part, on at least 30 days notice
at a redemption price of 100% of the principal amount thereof plus accrued
interest theron to the date of redemption.
CERTAIN RISK FACTORS
This Pricing Supplement does not describe all of the risks of an
investment in the Notes. The Company and Merrill Lynch & Co., Merrill Lynch,
Pierce, Fenner & Smith Incorporated ("Merrill Lynch") disclaim any
responsibility to advise prospective investors of such risks as they exist
at the date of this Pricing Supplement or as they change from time to time.
Prospective investors should consult their own financial and legal advisors
as to the risks entailed by an investment in the Notes and the suitability
of investing in the Notes in light of their particular circumstances.
Prospective investors should be able to bear the redemption and other
risks relating to an investment in the Notes.
The Company may be expected to redeem the Notes when prevailing
interest rates are relatively low. Upon any such redemption, registered
holders (and beneficial owners) of the Notes generally will not be able
to reinvest the redemption proceeds in a comparable security at an
effective interest rate as high as the current interest rate on the Notes.
Accordingly, prospective investors should consider the related reinvestment
risk in light of other investments available at the time of an investment
in the Notes.
The ability of the Company to redeem the Notes at its option is
likely to affect the market value of the Notes. In particular, prior to
March 1, 2000, the market value of the Notes generally will not rise
substantially above the redemption price because of such optional redemption
feature.
PLAN OF DISTRIBUTION
The Notes will be sold to Merrill Lynch & Co., Pierce, Fenner &
Smith Incorporated at 98.30% of the principal amount for resale
to one or more investors at varying prices related to prevailing market
prices at the time of resale.
Dated: February 19, 1997
