Pricing Supplement No. 21 Dated February 9, 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 $200,000,000
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. Morgan Stanley & Co. Inc. has agreed to purchase
the Notes at a price of 100% 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: February 17, 1994
Principal Amount: $200,000,000
Interest Rate Basis: (a) For the period from and including
February 17, 1994 to but excluding
May 18, 1994, 3.7125% per annum; and
(b) thereafter, LIBOR having an Index
Maturity of three months plus 15 basis
points.
Interest Reset Dates The 18th day of the months of May,
for LIBOR: August, November and February during the
period commencing May 18, 1994 and
ending November 18, 1996.
Interest Payment Dates: The 18th day of the months of May,
August, November and February during the
period commencing May 18, 1994 and
ending November 18, 1996, and at Stated
Maturity.
Stated Maturity: February 18, 1997
Reference Agent: Chemical Bank
MORGAN STANLEY & CO. INC.
