RULE 424(b)(3)
REGISTRATION NO. 333-42755
PRICING SUPPLEMENT NO. 28
TO PROSPECTUS DATED January 9, 1998
(As supplemented January 12, 1998)
IBM CREDIT CORPORATION
MEDIUM-TERM NOTES
(Zero-Coupon Notes)
(Due 9 months to 30 years from Date of Issue)
Designation: Zero-Coupon Original Issue Date: June 9, 1998
Medium-Term Notes Due
May 19, 2000
Principal Amount at Maturity: $15,000,000 Maturity Date: May 19, 2000
Issue Price: $896.39 per $1,000 Principal CUSIP No.: 449 22L 6JO
Amount at Maturity of the Notes
Interest: The Notes will not bear interest Original Issue Discount: $103.61
per $1,000 Principal Amount at
Maturity of the Notes
Commission or discount: $1.74 per $1,000 Yield to Maturity: 5.705%
Principal Amount at Maturity of the Notes
Redemption Provisions: NONE Form: [X] Book-Entry
[ ] Certificated
This is a Pricing Supplement. It describes the Zero-Coupon Notes now being
issued under the Medium-Term Note Program of IBM Credit Corporation. This
document adds to, or 'supplements' the description of the Notes referred to in
the accompanying Prospectus Supplement and Prospectus by providing specific
information about the Notes issued in this particular transaction. It also
amends the Prospectus Supplement and Prospectus to the extent that the
description of the Notes in this Pricing Supplement is not consistent with the
terms which are set forth in the Prospectus Supplement and Prospectus.
AMOUNT PAYABLE UPON ACCELERATION IN CASE OF AN EVENT OF DEFAULT
If an Event of Default with respect to the Notes shall have happened and
be continuing and the Trustee shall have declared the Notes to be due and
payable, the amount so payable in respect of each Note shall be a portion of
the principal amount (at maturity) thereof equal to 89.639% plus accrued
original issue discount thereon (expressed as a percentage and calculated on a
semi-annual bond equivalent basis using a 360-day year composed of twelve
30-day months) to the date of payment. (See "Description of the Securities --
Events of Default, Notice and Waiver" in the accompanying Prospectus.)
TAXATION
See "Certain United States Federal Income Tax Considerations" in the
accompanying Prospectus Supplement, including "U.S. Holders -- Original Issue
Discount".
PLAN OF DISTRIBUTION
The Notes will be sold to Goldman, Sachs & Co. at a price of $894.65 per
$1,000 Principal Amount at Maturity of the Notes for resale to one or more
investors at the Issue Price set forth above.
Dated: June 4, 1998
