Pricing Supplement No. 7 Dated January 12, 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 $500,000,000
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. Merrill Lynch & Co., Merrill Lynch, Pierce, Fenner
& Smith Incorporated, has agreed to purchase the Notes at a price
of 99.65% 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 1, 1994
Principal Amount: $500,000,000
Interest Rate Basis: (a) For the period from and including
February 1, 1994 to but excluding
May 1, 1994, LIBOR having an
Index Maturity of three months as
determined on January 28, 1994 plus 32.5
basis points; and (b) thereafter, LIBOR
having an Index Maturity of three months
plus 32.5 basis points.
Interest Reset Dates The 1st day of the months of May,
for LIBOR: August, November and February during the
period commencing May 1, 1994 and
ending November 1, 1998.
Interest Payment Dates: The 1st day of the months of May,
August, November and February during the
period commencing May 1, 1994 and
ending November 1, 1998, and at Stated
Maturity.<PAGE>
Stated Maturity: February 1, 1999
Reference Agent: Chemical Bank
The Notes may not be redeemed before February 1, 1998. On and
after such date the Notes may be redeemed on any Interest Payment
Date, as a whole or in part, at the option of Ford Credit, on not
less than 30 nor more than 60 days prior notice given in the
manner provided in the Indenture, at a Redemption Price equal to
100% of the principal amount to be redeemed, together with
interest thereon payable to the Redemption Date. (See Form of
Note and Article Eleven of the Indenture.)
MERRILL LYNCH & CO.
