PROSPECTUS and Pricing Supplement No. 003
PROSPECTUS SUPPLEMENT, each Effective at 11:08 A.M.
Dated October 24, 1996 November 8, 1996
Rule 424(b)(3)
Registration
Statement No. 33-64237
U.S.$5,000,000,000
FORD MOTOR CREDIT COMPANY
MEDIUM-TERM NOTES
Due from 9 Months to 30 Years from Date of Issue
Interest payable each March 15 and
September 15 and at Stated Maturity
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The Notes offered hereby are Fixed Rate Notes as more fully
described in the accompanying Prospectus and Prospectus
Supplement.
Issue Date: November 15, 1996
Stated Maturity: November 15, 2003
Interest Rate: 6.50% per annum
Agent's Discount or Commission 1.225%
Agent's Capacity ____ Agent _X__ Principal*
* If acting as principal, $3,000,000.00 aggregate principal
amount of the Notes are being purchased by Smith Barney Inc. at
the discount set forth above for resale to investors at varying
prices related to prevailing market prices at the time of resale.
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SMITH BARNEY INC.
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