RULE 424(b)(3)
REGISTRATION NO. 333-26211
PRICING SUPPLEMENT NO. 17
TO PROSPECTUS DATED June 27, 1997
IBM CREDIT CORPORATION
MEDIUM-TERM NOTES
(Floating Rate Note)
(Due from 9months to 30 years from date of issue)
Designation: Floating Rate Original Issue Date:
Medium Term Notes Due September 23, 1997
October 23, 1998
Principal Amount: $100,000,000 Maturity Date:
October 23, 1998
Issue Price (as a percentage of Regular Record Dates:
Principal Amount): 100% Fifteenth calendar day,
whether or not a
Interest Rate Base: LIBOR Business Day, prior to
Designated Libor Page: the corresponding
Telerate page 3750
Spread: Minus 0.15% Interest Payment Date
Initial Interest Rate: 5.63125% Interest Payment Dates:
December 23, 1997, March 23, 1998,
Redemption Provisions: None June 23, 1998, September 23, 1998
and at the maturity date.
Commission or Discount (as
a percentage of Principal
Amount): 0.00%
Interest Reset Dates:
CUSIP: 449 22L 4L7 December 23,1997, March 23, 1998,
June 23, 1998 and September 23, 1998.
Index Maturity: 3 month Libor
Interest Reset Period:
Determination Date:
Quarterly, commencing with and Two New York and London Banking
including each Interest Reset Date, days prior to reset date.
to, but excluding, the immediately
following Interest Reset Date.
Form:[X] BookEntry
[ ] 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 LIBOR minus a spread of 0.15%.
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.
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 is in the next succeeding calendar month, in which case
such date will be the next preceding Business Day.
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 and on which dealings
in deposits in U.S. dollars are transacted in the London Interbank market.
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 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 18, 1997
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