Pricing Supplement No. 4 Dated December 14, 1995
(To Prospectus and Prospectus Supplement
Dated October 10, 1995)
Rule 424(b)(3)
Registration Statement
No. 33-55945
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
101.29% of their principal amount for resale at an initial public offering
price of 101.29% of their principal amount. After the initial public
offering, the offering price may be changed.
Issue Date: January 16, 1996.
Principal Amount: Japanese Yen 10,000,000,000.
Interest Rate: From the Issue Date to but excluding January 16,
1999, 1.30% per annum calculated on the basis of a
360-day year of twelve 30-day months. From January
16, 1999 to but excluding the Maturity Date, 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 January 16, 1999, the 16th day of the
month of January in the years 1997, 1998 and 1999
(each a "Fixed Rate Interest Payment Date"). For
interest accruing from January 16, 1999 to but
excluding the Maturity Date, semi-annually on
January 16 and July 16 of each year, commencing
July 16, 1999, and at the Maturity Date (each a
"Floating Rate Interest Payment Date").
Interest Reset Dates: January 16, 1999 and each Floating Rate Interest
Payment Date other than the Maturity Date.
Maturity Date: January 16, 2001.
Redemption Price at
Maturity Date: 100% of Principal Amount.
ISIN: XS0062632756
Listing: The Notes will not be listed on the Luxembourg Stock
Exchange or any other 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 each Interest Reset Date
(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
