Pricing Supplement No.3 Dated November 27, 1995
(To Prospectus and Prospectus Supplement dated October 10, 1995)
U.S. $4,000,000,000 Rule 424(b)(3)
FORD MOTOR CREDIT COMPANY Registration Statement
No. 33-55945
Euro Medium-Term Notes Due from 9 Months to
30 Years from Date of Issue
Ford Motor Credit Company has designated Japanese Yen
5,000,000,000 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. Lehman Brothers International (Europe) has
agreed to purchase the Notes at a price of 101.690% of the principal
amount for resale at an initial public offering price of 101.690% 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: December 11, 1995
Principal Amount: Japanese Yen 5,000,000,000
Maturity Date: December 11, 2000.
Redemption Price at
Maturity: 100% of Principal Amount
ISIN: XS0062169510
Common Code: 6216951
Listing: The Notes will not be listed on the Luxembourg Stock Exchange
or any other stock exchange.
Interest Rate and Payment: The Notes will bear interest from December
11, 1995, at the Interest Rate determined in the manner set forth
below, payable quarterly on March 11, June 11, September 11 and
December 11 during the period commencing with March 11, 1996 and ending
with September 11, 2000 (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 30 basis points (0.30%). The Interest Rate for
each Interest Period will be set on the 11th day of the months of
March, June, September and December during the period commencing with
the Issue Date and ending with September 11, 2000 (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 September 2000 to and
including December 10, 2000.
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,
except that if such next succeeding Business Day shall fall in the next
succeeding calendar month, then each such Interest Reset Date or
Interest Payment Date shall be the immediately preceding 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 the 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 Tokyo or the City of London, is not a day on which
banking institutions are generally authorized or obligated by law to
close.
LEHMAN BROTHERS INTERNATIONAL (EUROPE)
