Pricing Supplement No. 79 Dated May 16, 1997
(To Prospectus and Prospectus Supplement
Dated October 24, 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
Ford Motor Credit Company ("Ford Credit") has designated
$100,000,000 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.
Lehman Brothers Inc. has agreed to purchase the Notes at a price of 100% 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: May 21, 1997
Principal Amount: $100,000,000
Interest Rate Basis: LIBOR having an Index Maturity of three months
plus 20 basis points.
Interest Reset Dates: Quarterly on the 21st day of the months of February,
May, August and November, beginning August 21, 1997.
Interest Payment Dates: Quarterly on the 21st day of the months of February,
May, August and November, beginning August 21, 1997,
and at Stated Maturity.
Stated Maturity: May 21, 2004
Reference Agent: The Chase Manhattan Bank
LEHMAN BROTHERS INC.
