Pricing Supplement No.4 Dated August 28, 1995
(To Prospectus and Prospectus Supplement dated May 4,
1994)
Rule 424(b)(3)
Registration Statement
U.S. $6,000,000,000 No. 33-53101
FORD MOTOR CREDIT COMPANY
Euro Medium-Term Notes Due from 9 Months to
30 Years from Date of Issue
Ford Motor Credit Company has designated Japanese
Yen 15,000,000,000, aggregate principal amount of its
Euro Medium-Term Notes Due from 9 Months to 30 Years
from Date of Issue having the specific terms set forth
below. Yamaichi International (Europe) Limited has
agreed to purchase the Notes at a price of 102.40% of
the principal amount for resale at an initial public
offering price of 102.40% 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 this Pricing Supplement.
Issue Date: September 27, 1995
Principal Amount: Japanese Yen 15,000,000,000
Maturity Date: September 27, 1999.
Interest Rate and Payment: The Notes will bear interest
from September 27, 1995, at the Interest Rate determined
in the manner set forth below, payable quarterly on
March 27, June 27, September 27 and December 27 during
the period commencing with December 27, 1995 and ending
with June 27, 1999 (each such date an "Interest Payment
Date") and on the Maturity Date.
The per annum interest rate (the "Interest Rate")
in effect for each day of an Interest Period will be
equal to the Three Month JPY-LIBOR-BBA Rate plus 50
basis points (0.50%). The Interest Rate for each
Interest Period will be set on the 27th day of the
months of March, June, September and December during the
period commencing with the Issue Date and ending with
June 27, 1999 (each such day an "Interest Reset Date").
"Interest Period" shall mean the period from and
including an Interest Reset Date to but excluding the
next succeeding Interest Reset Date and, in the case of
the last such period, the Interest Reset Date occurring
in June 1999 to and including September 26, 1999. .
The "Three Month JPY-LIBOR-BBA Rate" shall mean
the rate determined in accordance with the following
provisions:
(i) On the second day on which dealings in deposits in
Japanese yen are transacted in the London interbank
market preceding the Issue Date and each Interest Reset
Date thereafter (each such date an "Interest
Determination Date"), Chemical Bank (the "Reference
Agent"), as agent for the Company, will determine the
Three Month JPY-LIBOR-BBA Rate which shall be the rate
for deposits in Japanese yen having a three-month
maturity which appears on Telerate Page 3750 as of 11:00
a.m., London time, on such Interest Determination Date.
"Telerate Page 3750" means the display page so
designated on the Dow Jones Telerate Service (or such
other page as may replace that page on that service or
such other service or services as may be nominated by
the British Bankers' Association for the purpose of
displaying London interbank offered rates for Japanese
yen deposits). If the Three-Month JPY-LIBOR-BBA Rate on
such Interest Determination Date does not appear on
Telerate Page 3750, such Three-Month JPY-LIBOR-BBA Rate
will be determined as described in (ii) below.
(ii) With respect to an Interest Determination
Date for which the Three-Month JPY-LIBOR-BBA Rate does
not appear on the Telerate Page 3750 as specified in (i)
above, the Three Month JPY-LIBOR-BBA Rate will be
determined on the basis of the rates at which deposits
in Japanese yen are offered by four major banks in the
London interbank market selected by the Reference Agent
(the "Reference Banks") at approximately 11:00 a.m.,
London time, on such Interest Determination Date to
prime banks in the London interbank market having a
three-month maturity and in a principal amount that is
representative for a single transaction in such market
at such time. The Reference Agent will request the
principal London office of each of such Reference Banks
to provide a quotation of its rate. If at least two
such quotations are provided, the Three Month JPY-LIBOR-
BBA Rate on such Interest Determination Date will be the
arithmetic mean of such quotations. If fewer than two
quotations are provided, the Three Month JPY-LIBOR-BBA
Rate on such Interest Determination Date will be the
arithmetic mean of the rates quoted by three major banks
in Tokyo selected by the Reference Agent at
approximately 11:00 a.m., Tokyo time, on such Interest
Determination Date for loans in Japanese yen to leading
European banks, having a three-month maturity and in a
principal amount representative for a single transaction
in such market at such time; provided, however, that if
the banks in Tokyo selected as aforesaid by the
Reference Agent are not quoting as mentioned in this
sentence, the Interest Rate for the Interest Period
commencing on the Interest Reset Date following such
Interest Determination Date will be the Interest Rate in
effect on such Interest Determination Date.
The amount of interest for each day that the Notes
are outstanding (the "Daily Interest Amount") will be
calculated by dividing the Interest Rate in effect for
such day by 360 and multiplying the result by the
principal amount of the Notes. The amount of interest
to be paid on the Notes for each Interest Period will be
calculated by adding the Daily Interest Amounts for each
day in the Interest Period. The Interest Rate and amount
of interest to be paid for each Interest Period will be
determined by the Reference Agent.
In any case in which an Interest Reset Date or an
Interest Payment Date is not a Business Day then each
such Interest Reset Date or Interest Payment Date shall
be the next succeeding Business Day. If the Maturity
Date is not a Business, then the principal amount of the
Notes together with accrued and unpaid interest thereon
shall be paid on the next following Business Day with
the same force and effect as if made on such on such
Maturity Date. "Business Day" shall mean any day that
is not a Saturday or a Sunday and that, in The City of
New York, Tokyo or the City of London, is not a day on
which banking institutions are generally authorized or
obligated by law to close.
YAMAICHI INTERNATIONAL (EUROPE) LIMITED
