Pricing Supplement No. 23 Dated February 16, 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 $25,000,000
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, for sale at a price of 100% of the principal amount.
See the accompanying Prospectus and Prospectus Supplement for
further information regarding the Notes described in the Pricing
Supplement.
Issue Date: February 24, 1994
Principal Amount: $25,000,000
Interest Rate Basis: (a) For the period from and including
February 24, 1994 to but excluding
May 24, 1994, LIBOR having an
Index Maturity of three months as
determined on February 22, 1994,
plus 12.5 basis points; and (b)
thereafter, LIBOR having an Index
Maturity of three months
plus 12.5 basis points.
Interest Reset Dates The 24th day of the months of February,
for LIBOR: May, August and November during the
period commencing May 24, 1994 and
ending November 24, 1996.
Interest Payment Dates: The 24th day of the months of February,
May, August and November during the
period commencing May 24, 1994 and
ending November 24, 1996, and at Stated
Maturity.
Stated Maturity: February 24, 1997
Reference Agent: Chemical Bank
MERRILL LYNCH & CO.
