Pricing Supplement No. 7 Dated October 30, 1995 Rule 424(b)(3)
(To Prospectus and Prospectus Supplement Registration Statement
Dated May 4, 1994) 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 ("Ford Credit") has designated Japanese Yen
10,000,000,000 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.
CS First Boston Limited has agreed to purchase the Notes at a price of
100.89% of their principal amount for resale at an initial public offering
price of 100.89% of their principal amount. After the initial public
offering, the offering price may be changed.
Issue Date: November 22, 1995.
Principal Amount: Japanese Yen 10,000,000,000.
Interest Rate: From the Issue Date to but excluding November 22,
1998, 1.30% per annum calculated on the basis of a
360-day year of twelve 30-day months. From November
22, 1998 to but excluding the Stated Maturity, Six
Month JPY-LIBOR-BBA Rate plus 30 basis points (the
("Floating Rate").
Interest Payment Dates: For interest accruing from the Issue Date to but
excluding November 22, 1998, the 22nd day of the
month of November in the years 1996, 1997 and 1998
(the "Fixed Rate Interest Payment Date"). For
interest accruing from November 22, 1998 to but
excluding the Stated Maturity, semi-annually on
May 22 and November 22 of each year (the "Floating
Rate Interest Payment Date"), commencing May 22,
1999 ,and at Stated Maturity.
Interest Reset Dates: November 22, 1998 and each Floating Rate Interest
Payment Date other than the Stated Maturity.
Stated Maturity: November 22, 2000.
Redemption Price at
Stated Maturity: 100% of Principal Amount.
ISIN: XS0061559018.
Listing: The Notes will not be listed on the Luxembourg Stock
Exchange.
The "Six 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 first Interest Reset
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 Six Month JPY-LIBOR-BBA Rate which shall be the
rate for deposits in Japanese yen having a six-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 Six Month JPY-
LIBOR-BBA Rate on such Interest Determination Date does not appear on
Telerate Page 3750, such Six Month JPY-LIBOR-BBA Rate will be determined as
described in (ii) below.
(ii) With respect to an Interest Determination Date for which the Six
Month JPY-LIBOR-BBA Rate does not appear on the Telerate Page 3750 as
specified in (i) above, the Six 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 six-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 Six Month JPY-LIBOR-BBA Rate on such Interest
Determination Date will be the arithmetic mean (rounded upwards, if
necessary, to the nearest one hundred-thousandth of a percentage point, with
5 one-millionths of a percentage point rounded upward) of such quotations. If
fewer than two quotations are provided, the Six Month JPY-LIBOR-BBA Rate on
such Interest Determination Date will be the arithmetic mean (rounded
upwards, if necessary, to the nearest one hundred-thousandth of a percentage
point, with 5 one-millionths of a percentage point rounded upward) 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 six-month maturity
and in a principal amount that is 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 Floating Rate for the Interest Period commencing on the
Interest Reset Date following such Interest Determination Date will be the
Floating Rate in effect on such Interest Determination Date.
The amount of interest for each day that the Notes bear interest at the
Floating Rate (the "Daily Interest Amount") will be calculated by dividing
the Floating 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 such Interest Period will be calculated by adding the Daily
Interest Amounts for each day in the applicable Interest Period.
In any case in which a Fixed Rate Interest Payment Date, a Floating Rate
Interest Payment Date or an Interest Reset Date other than the first Interest
Reset Date is not a Business Day, then such Interest Reset Date or Interest
Payment Date, as the case may be, shall be the next succeeding Business Day.
If the Maturity Date is not a Business Day, 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
Maturity Date. "Business Day" shall mean any day that is not a Saturday or a
Sunday and that, in The City of New York, the City of London or the City of
Tokyo is not a day on which banking institutions are generally authorized or
obligated by law to close.
CS FIRST BOSTON LIMITED
