Pricing Supplement Dated April 10, 1995 Rule 424(b)(3)
(To Prospectus Dated February 7, 1995) File No. 33-55799
GENERAL MOTORS ACCEPTANCE CORPORATION
Medium-Term Notes - Floating Rate
____________________________________________________________________________
Agent: Merrill Lynch
Principal Amount: $100,000,000
Agent's Discount
or Commission: $75,000
Net Proceeds to Company: $99,925,000
Initial Interest Rate: Reset on the Issue Date (also an Interest
Reset Date).
Issue Date: 4/21/95
Maturity Date: 4/21/98
____________________________________________________________________________
Calculation Agent: GMAC
Interest Calculation:
/X/ Regular Floating Rate Note
Interest Rate Basis: / / CD Rate / / Commercial Paper Rate
/X/ Prime Rate * / / Federal Funds Rate
/ / LIBOR (see below) / / Treasury Rate
/ / Other
(see attached)
*(Except as otherwise described herein)
If LIBOR, Designated LIBOR Page / / Reuters Page: / / or
/ / Telerate Page: 3750
Interest Reset Dates: (See Below)
Interest Payment Dates: (See Below)
Index Maturity: (See Below)
Spread (+/-): (See Below)
Day Count Convention:
/X/ Actual/360 for the period from 4/21/95 to 4/21/98 (Except as
otherwise described herein)
/ / 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 April 21, 1995 through the day
immediately preceding but excluding the Interest Payment Date in April 1996
(the "Initial Reset Period"); the period from and including the Interest
Payment Date in April 1996 through the day immediately preceding but excluding
the Interest Payment Date in April 1997; and the period from and including the
Interest Payment Date in April 1997 to, but excluding, the stated Maturity
Date of the Notes. 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.
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 Base Rate, Spread, Interest Payment Dates,
Interest Reset Dates, Interest Determinations Dates, Day Count Convention and
any other relevant terms (as defined below or in the relevant prospectus) (the
"Reset Period Terms") for such subsequent Reset Period. If the Company fails
to deliver timely such officer's certificate to the Trustee, the Reset Period
Terms for the subsequent Reset Period shall be such terms in effect during the
immediately preceding Reset Period.
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 Reset Period Terms 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 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.
Initial Reset Period. The per annum rate of interest for each Interest
Period in the Initial Reset Period will be (i) The Prime Rate (as defined in
the accompanying Prospectus) minus (ii) a spread (the "Spread") of 265 basis
points during the Initial Reset Period, provided however, the Interest Rate
in effect for the two Business Days preceding each Interest Payment Date will
be the Interest Rate in effect on the second Business Day preceding such
Interest Payment Date. The Interest Rate during the Initial Reset Period will
reset each Business Day (each an "Interest Reset Date"). The Interest
Determination Date with respect to each Interest Reset Date will be the
Business Day immediately preceding such Interest Reset Date. The Interest
Payment Dates, with respect to the Initial Interest Reset Period will be on
each January 21, April 21, July 21, October 21, with the first Interest
Payment Date being July 21, 1995.
Except as may otherwise be specified with respect to any subsequent
Reset Period, 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 April 22, 1996 and
April 21, 1997 (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.
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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
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 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.
U.S. FEDERAL INCOME TAXES
If the Company resets the per annum rate of interest for any Reset
Period and the beneficial owner does not elect to have the Company repay the
Note, then for federal income tax purposes the beneficial owner may be deemed
to have exchanged the Note for a new Note. As a result of the deemed
exchange, the beneficial owner may recognize a gain or loss on the deemed
exchange of the instruments.
THE UNITED STATES FEDERAL INCOME TAX CONSEQUENCE DESCRIBED ABOVE IS
INCLUDED FOR GENERAL INFORMATION ONLY AND MAY NOT BE APPLICABLE DEPENDING UPON
A HOLDER'S PARTICULAR SITUATION. HOLDERS SHOULD CONSULT THEIR OWN TAX
ADVISORS WITH RESPECT TO THE TAX CONSEQUENCES TO THEM OF THE OWNERSHIP AND
DISPOSITION OF THE NOTES.
