Pricing Supplement No. 163 Dated February 6, 1998
(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
$300,000,000 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.
Goldman, Sachs & Co. have agreed to purchase the Notes at a price of 99.75%
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: February 13, 1998.
Principal Amount: $300,000,000.
Interest Rate Basis: LIBOR having an Index Maturity of three months
plus (i) 10 basis points for the three year
period commencing February 13, 1998 and (ii)
15 basis points for the period commencing on
February 13, 2001.
Interest Reset Dates: Quarterly on the 13th day of the months of
February, May, August and November.
Interest Payment Dates: Quarterly on the 13 day of the months of
February, May, August and November, beginning
May 13, 1998.
Stated Maturity: February 13, 2003.
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Repayment at Option
of the Holder The Notes are subject to prepayment, at the
option of the holder, in whole or in part at
100% of their principal amount, together with
accrued interest thereon on the Interest
Payment Date occurring in Febrary 2001 (the
"Repayment Date"). In order for a Note to
be prepaid, Ford Credit must receive written
notice of the holder's exercise of such option
at the office or agency of the Trustee in The
City of New York or at the Corporate Trust
Office of the Trustee, not more than 60 days
nor less than 45 days prior to Repayment
Date. The form of such notice shall be
available at the offices or agencies referred
to above, and shall contain such information
as Ford Credit may reasonably request in order
to prepay a Note.
Reference Agent: The Chase Manhattan Bank
GOLDMAN, SACHS & CO.
