Pricing Supplement No. 160 Dated January 27, 1998
(To Prospectus and Prospectus Supplement Rule 424(b)(3)
Dated October 24, 1996) 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
$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.
Salomon Brothers Inc has agreed to purchase the Notes at a price of 99.650%
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 2, 1998
Principal Amount: $50,000,000
Interest Rate Basis: LIBOR having an Index Maturity of three months
plus 14 basis points, except that the Interest
Rate for the period from and including February
2, 1998 to but excluding May 2, 1998 shall be
5.79234% per annum.
Interest Reset Dates: Quarterly on the 2nd day of the months of
February, May, August and November, beginning
May 2, 1998.
Interest Payment Dates: Quarterly on the 2nd day of the months of
February, May, August and November, beginning
May 2, 1998, and at Maturity.
Stated Maturity: February 3, 2003.
Reference Agent: The Chase Manhattan Bank
SALOMON BROTHERS INC
