Pricing Supplement No. 61 Dated April 28, 1994
(To Prospectus and Prospectus Supplement
Dated December 1, 1993)
Rule 424(b)(3)
Registration Statement
No. 33-51075
U.S.$3,000,000,000
FORD MOTOR CREDIT COMPANY
Medium-Term Notes Due from 9 Months
to 30 Years from Date of Issue
Ford Motor Credit Company has designated $100,000,000 aggregate
principal amount of its Medium-Term Notes Due from 9 Months to 30 Years from
Date of Issue having specific terms set forth below. Goldman, Sachs & Co.
have agreed to purchase the Notes at a price of 99.75% of the principal
amount for resale at an initial public offering price of 100% of the
principal amount. After the initial public offering, the public offering
price may be changed. See the accompanying Prospectus and Prospectus
Supplement for further information regarding the Notes described in the
Pricing Supplement.
Issue Date: May 5, 1994
Principal Amount: $100,000,000
Interest Rate Basis: (a) For the period from and including
May 5, 1994 to but excluding
August 5, 1994, 4.775%; and (b)
thereafter, LIBOR having an Index
Maturity of three months
plus 40 basis points (.40%), provide
that if the rate so determined for any
Interest Reset Date shall exceed the
Interest Cap Rate designated for such
Interest Reset Date, then the Interest
Rate for the Interest Period commencing on
such Interest Reset Date shall be the
Interest Cap Rate designated for such
Interest Reset Date.
Interest Cap Rates: For each Interest Period during the
period from and including the Interest
Reset Date occurring in August 1994 to
but excluding the Interest Reset Date
occurring in May 1995: 6.60%.
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Interest Cap Rates, For each Interest Period during the
continued: period from and including the Interest
Reset Date occurring in May 1995 to but
excluding the Interest Reset Date
occurring in May 1996: 7.60%.
For each Interest Period during the
period from and including the Interest
Reset Date occurring in May 1996 to
but excluding the Stated Maturity:
8.60%.
Interest Reset Dates The 5th day of the months of February,
for LIBOR: May, August and November during the
period commencing August 5, 1994 and
ending February 5, 1997.
Interest Payment Dates: The 5th day of the months of February,
May, August and November during the
period commencing August 5, 1994 and
ending February 5, 1997 and at Stated
Maturity.
Stated Maturity: May 5, 1997
Reference Agent: Chemical Bank
GOLDMAN, SACHS & CO.
