Pricing Supplement No. 296 Dated August 11, 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 $75,000,000
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. Salomon
Brothers Inc has agreed to purchase the Notes at a price of 100% 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. The Notes will be issued in denominations of $5,000 or
any amount in excess thereof which is an integral multiple of $1,000, and
will be subject to a minimum order of $5,000.
Issue Date: September 1, 1995
Principal Amount: $75,000,000
Interest Rate: 7.250% per annum to but excluding the
Interest Payment Date in September 2000;
7.750% per annum from the Interest Payment
Date in September 2000 to but excluding
the Maturity Date
Interest Payment Dates: March 1 and September 1 of each year
commencing March 1, 1996
Stated Maturity: September 1, 2010
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 or in part, on the Interest Payment Date in September
2000 and on any Interest Payment Date 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.
It is expected that delivery of the Notes will be made against payment
therefor on or about the Issue Date specified above. Purchasers of the Notes
should note that the ability to settle secondary market trades of the Notes
may be affected by the fact that the Issue Date is more than three business
days following the date of this Pricing Supplement and that alternate
settlement arrangements may be required.
SALOMON BROTHERS INC
