Pricing Supplement Dated October 13, 1994 Rule 424(b)(3)
(To Prospectus Dated December 15, 1993) File No. 33-51381
GENERAL MOTORS ACCEPTANCE CORPORATION
Medium-Term Notes - Floating Rate
____________________________________________________________________________
Agent: Merrill Lynch
Principal Amount: $350,000,000
Agent's Discount
or Commission: $262,500
Net Proceeds to Company: $349,737,500
Initial Interest Rate: Reset on the Issue Date (also an Interest
Reset Date).
Issue Date: 10/20/94
Maturity Date: 10/20/97
____________________________________________________________________________
Calculation Agent: GMAC
Interest Calculation:
/X/ Regular Floating Rate Note
Interest Rate Basis: / / CD Rate / / Commercial Paper Rate
/ / Prime Rate /X/ Federal Funds Rate
/ / LIBOR (see below) / / Treasury Rate
/ / Other
(see attached)
If LIBOR, Designated LIBOR Page / / Reuters Page: / / or
/ / Telerate Page: 3750
Interest Reset Dates: Each Business Day commencing October 20, 1994 to but
excluding the Maturity Date.
Interest Payment Dates: Each January 20, April 20, July 20, October 20,
commencing January 20, 1995 and ending
October 20, 1997.
Index Maturity: (See Below)
Spread (+/-): (See Below)
Day Count Convention:
/X/ Actual/360 for the period from 10/20/94 to 10/20/97
/ / Actual/Actual for the period from / / to / /
/ / 30/360 for the period from / / to / /
Redemption:
/X/ The Notes cannot be redeemed prior to the Stated Maturity Date.
/ / The Notes may be redeemed prior to Stated Maturity Date.
/ / Initial Redemption Date:
Initial Redemption Percentage: ___%
Annual Redemption Percentage Reduction: ___% until Redemption
Percentage is 100% of the Principal Amount.
Repayment:
/ / The Notes cannot be repaid prior to the Maturity Date.
/X/ The Notes can be repaid prior to the Maturity Date at the option of
the holder of the Notes. (See Below)
/ / Optional Repayment Date(s):
Repayment Price: %
Currency:
Specified Currency: U.S. (If other than U.S. dollars, see attached)
Minimum Denominations: ___________ (Applicable only if Specified
Currency is other than U.S. dollars)
Original Issue Discount: / / Yes /X/ No
Total Amount of OID: Yield to Maturity:
Initial Accrual Period:
Form: /X/ Book-Entry / / Certificated
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INTEREST RESET
Reset Periods. A "Reset Period" shall mean each of the following
periods; the period from and including October 20, 1994 through the day
immediately preceding but excluding the Interest Payment Date in October 1995
(the "Initial Reset Period"); the period from and including the Interest
Payment Date in October 1995 through the day immediately preceding but
excluding the Interest Payment Date in October 1996; and the period from and
including the Interest Payment Date in October 1996 to, but excluding, the
stated Maturity Date of the Notes.
Not earlier than the 45th day and not later than the 30th day prior to
the commencement of any Reset Period subsequent to the Initial Reset Period
(a "Notification Date"), the Company shall deliver to the Trustee an
officer's certificate establishing the Spread (as defined below) for such
subsequent Reset Period. If the Company fails to deliver timely such
officer's certificate to the Trustee, the Spread for the subsequent Reset
Period shall be the Spread in effect during the immediately preceding Reset
Period.
The Spread for the Initial Reset Period and each Interest Period (as
defined below) in such Reset Period shall be 27.5 basis points. The Spread
for each subsequent Reset Period and each Interest Period in such Reset
Period shall be determined by the Company as set forth above. An Interest
Period shall be each period from and including an Interest Reset Date to but
excluding the next succeeding Interest Reset Date, or the Maturity Date, as
the case may be.
On or before the Business Day immediately following any Notification
Date, the Company will cause notice to be mailed to each holder of the Notes
of the Spread with respect to the immediately following Reset Period that is
set forth in the officer's certificate described above. As long as the Notes
are represented by one or more permanent Global Notes, a nominee of the The
Depository Trust Company (the "Depositary") will be the holder of the Notes
and, therefore, will be the only entity that is entitled to such notice.
Interest Rate. The per annum rate of interest for each Interest Period
will be (i) The Federal Funds Rate (as defined in the accompanying
Prospectus) plus (ii) a spread (the "Spread") of 27.5 basis points during
the Initial Reset Period and as subsequently determined by the Company for
subsequent Reset Periods as described above. The Interest Determination Date
with respect to each Interest Reset Date will be the Business Day immediately
preceding such Interest Reset Date. The Federal Funds Rate for each Interest
Period will be determined by the Calculation Agent (as defined below) in
accordance with the following provisions.
Interest payable on the Notes will include interest accrued from and
including the Issue Date or from and including the last Interest Payment Date
to which interest has been paid to, but excluding, the next succeeding
Interest Payment Date, or Maturity Date, as the case may be.
The Calculation Agent will, upon the request of the holder of any
Notes, provide the interest rate then in effect. All calculations made by
the Calculation Agent in the absence of manifest error shall be conclusive
for all purposes and binding on the Company and the holders of the Notes.
REPAYMENT AT OPTION OF HOLDER
Each Note will be repayable in whole or in part on October 20, 1995 and
October 21, 1996 (each, an "Election Date") at the option of the holder of
such Note, at 100% of its principal amount plus accrued interest to the date
of repayment. For any Note to be repaid, such Note must be received,
together with the form thereon entitled "Option to Elect Repayment" duly
completed, by the Trustee at its Corporate Trust Office (or such other
address of which the Company shall from time to time notify the holders) not
more than 30 nor less than 15 calendar days prior to the date of repayment.
While the Book-Entry Notes are represented by the Global Note or Notes
held by or on behalf of the Depositary, and registered in the name of the
Depositary or the Depositary's nominee, the option for repayment may be
exercised by the applicable participant that has an account with the
Depositary, on behalf of the beneficial owners of the Global Note or Notes
representing such Book-Entry Notes, by delivering a written notice
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substantially similar to the above mentioned form to the Trustee at its
Corporate Trust Office (or such other address of which the Company shall from
time to time notify the holders), not more than 30 nor less than 15 calendar
days prior to the date of repayment. Notices of elections from participants
on behalf of beneficial owners of the Global Note or Notes representing such
Book-Entry Notes to exercise their option to have such Book-Entry Notes
repaid must be received by the Trustee by 5:00 P.M., New York City time, on
the last day for giving such notice. In order to ensure that a notice is
received by the Trustee on a particular day, the beneficial owner of the
Global Note or Notes representing such Book-Entry Notes must so direct the
applicable participant before such participant's deadline for accepting
instructions for that day. Different firms may have different deadlines for
accepting instructions from their customers. Accordingly, beneficial owners
of the Global Note or Notes representing Book-Entry Notes should consult the
participants through which they own their interest therein for the respective
deadlines for such participants. All notices shall be executed by a duly
authorized officer of such participant (with signature guaranteed) and shall
be irrevocable. In addition, beneficial owners of the Global Note or Notes
representing Book-Entry Notes shall effect delivery at the time such notices
of election are given to the Depositary by causing the applicable participant
to transfer such beneficial owner's interest in the Global Note or Notes
representing such Book-Entry Notes, on the Depositary's records, to the
Trustee.
The Company does not intend to establish a sinking fund or otherwise
set aside any amounts for the repayment of the Notes.
All capitalized terms used above but not defined herein shall have the
meanings given to the them in the accompanying Prospectus.
PLAN OF DISTRIBUTION
Merrill Lynch & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated
("Merrill Lynch") has purchased the Notes as principal at a price equal to
99.925% of the aggregate principal amount for resale to investors and other
purchasers at a price equal to 100% of the principal amount thereof. After
the initial public offering, the public offering price and concession may be
changed. The Company has agreed to pay to Merrill Lynch on each Election
Date an amount equal to .075% of the aggregate principal amount of Notes
outstanding at the close of business on such dates.
