Pricing Supplement No. 16 Dated January 6, 1997
(To Prospectus and Prospectus Supplement
Dated October 24, 1996)
Rule 424(b)(3)
Registration Statement
U.S.$5,000,000,000 No. 33-64237
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% 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: January 23, 1997
Principal Amount: $50,000,000
Interest Rate: 7.30% per annum
Interest Payment Dates: The 23rd day of each month commencing February 23,
1997, and at Stated Maturity, payable to each holder
of record on the fifteenth day (whether or not a
Business Day) next preceding the applicable Interest
Payment Date.
Stated Maturity: January 23, 2012
Business Day: "Business Day" means any day that is not a Saturday
or Sunday and that, in The City of New York or the
City of London, is not a day on which banking
institutions are generally authorized or obligated
by law to close.
Ford Credit may, at its option, redeem the Notes upon not less than
30 nor more than 60 days' notice given in the manner provided in the
Indenture, as a whole but not in part, on January 23, 2002 (such date being
the "Redemption Date") at a redemption price equal to 100% of the principal
amount of the Notes to be redeemed plus accrued interest thereon to the
Redemption Date. If the Redemption Date is not a Business Day, the Notes
will be redeemed on the next succeeding Business Day and no interest shall
accrue for the period from and after the Redemption Date.
SMITH BARNEY INC.
