Pricing Supplement No. 231 Dated May 9, 1995
(To Prospectus and Prospectus Supplement
Dated May 4, 1994)
U.S.$6,000,000,000 Rule 424 (b)(3)
Registration Statement
FORD MOTOR CREDIT COMPANY No. 33-53101
Medium-Term Notes Due from 9 Months
to 30 Years from Date of Issue
Ford Motor Credit Company ("Ford Credit") has designated $10,000,000
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 99.525% of their principal amount for resale
at an initial public offering price of 100% of their principal amount. After
the initial public offering, the offering price may be changed.
Issue Date: May 16, 1995
Principal Amount: $10,000,000
Interest Rate: 7.57% per annum
Interest Payment Dates: March 15 and September 15 of each year
commencing September 15, 1995
Stated Maturity: May 16, 2005
Ford Credit may, at its option, redeem the Notes upon not less than
30 nor more than 60 days' notice given in the manner provided in the
Indenture, as a whole but not in part, on May 16, 2000 and on any Business
Day thereafter (any such day so designated being a "Redemption Date") at a
redemption price equal to 100% of the principal amount of the Notes to be
redeemed plus accrued interest thereon to the Redemption Date. If any
Redemption Date is not a Business Day, the Notes will be redeemed on the next
succeeding Business Day and no interest shall accrue for the period from and
after such Redemption Date.
MERRILL LYNCH & CO.
