Pricing Supplement No. 147 Dated April 11, 1996
(To Prospectus and Prospectus Supplement
Dated October 10, 1995)
Rule 424(b)(3)
Registration Statement
No. 33-55945
U.S.$4,000,000,000
FORD MOTOR CREDIT COMPANY
Medium-Term Notes Due from 9 Months
to 30 Years from Date of Issue
Ford Motor Credit Company ("Ford Credit") has designated
$50,000,000 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.
Smith Barney Inc. has agreed to purchase the Notes at a price
of 100.00% 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: April 25, 1996
Principal Amount: $50,000,000
Interest Rate: 7.50% per annum
Interest Payment Dates: Monthly, on the 25th day of each month commencing
May 25, 1996
Stated Maturity: April 25, 2011
Redemption: The Notes may be redeemed at Ford Credit's option on
April 25, 2001 as provided below.
Reference Agent: Chemical Bank
The Notes may not be redeemed before April 25, 2001. On April 25, 2001,
the Notes may be redeemed, as a whole but not in part, at the option of Ford
Credit, on not less than 30 nor more than 60 days prior notice given in the
manner provided in the Indenture, at a Redemption Price equal to 100% of the
principal amount of the Notes redeemed, together with interest thereon
accrued to the Redemption Date.
SMITH BARNEY INC.
