Pricing Supplement No. 170 Dated March 18, 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
$121,000,000 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. and Salomon Brothers Inc severally have agreed to
purchase, respectively, $86,000,000 and $35,000,000 aggregate principal
amount of the Notes at a price of 99.839% 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: March 24, 1998.
Principal Amount: $121,000,000.
Interest Rate Basis: LIBOR having an Index Maturity of three months
plus 15 basis points except that the
Index Maturity for the initial Interest Period
is one month.
Interest Reset Dates: Quarterly on the 15th day of the months of
January, April, July and October.
Interest Payment Dates: Quarterly on the 15 day of the months of
January, April, July and October commencing
April 15, 1998.
Stated Maturity: October 15, 2002.
Reference Agent: The Chase Manhattan Bank.
GOLDMAN, SACHS & CO. SALOMON SMITH BARNEY
