Rule 424(b)(3)
Registration No. 333-42755
PRICING SUPPLEMENT NO. 21 TO PROSPECTUS DATED January 9, 1998
(As supplemented January 12, 1998)
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 3, 1998
April 5, 1999
Principal Amount: $100,000,000 Maturity Date:
April 5, 1999
Issue Price (as a percentage of Regular Record Dates:
Principal Amount): 100.00% Twentieth calendar day, whether or not
a Business Day, immediately preceding
the corresponding Interest Payment
Date.
Interest Rate Base: Weekly avg.
3 month T-Bills as set in the
Federal Reserve Board H.15 as
reported on Telerate P.56
Interest Determination Dates:
Spread: Plus 53.25 basis points The Business Day next preceding each
relevant Interest Reset Date and the
Original Issue Date.
Initial Interest Rate: 5.7205% Interest Reset Dates:
Each Tuesday following the Original
Issue Date. Rate cutoff date will be
2 New York Business Days.
Commission or discount (as a Interest Reset Period:
percentage of Principal Weekly
Amount): 0%
Interest Payment Dates:
Quarterly, pays the 3rd or next
good business day of July,
October, January and at maturity.
Redemption Provision: N/A CUSIP: 449 22L 6B7
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.
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 anum on the
Notes for each Interest Reset Period will be determined as the T-Bill Rate
plus a spread of 53.25 basis points.
Interest on the Notes will be calculated based on the actual
number of days elapsed over a year. 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. 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 Prospectus Supplement and Prospectus.
PLAN OF DISTRIBUTION
The Notes will be sold to Credit Suisse First Boston 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: April 1, 1998
