RULE 424(b)(3)
REGISTRATION NO. 33-65119
PRICING SUPPLEMENT NO. 4 TO PROSPECTUS DATED FEBRUARY 7, 1996
(As supplemented April 18, 1996)
INTERNATIONAL BUSINESS MACHINES CORPORATION
MEDIUM-TERM NOTES
(Fixed Rate Note)
(Due One Year or More from Date of Issue)
Designation: Fixed Rate Original Issue Date:
Medium-Term Notes Due July 17, 1996
July 17, 2006
Principal Amount: $25,000,000 Maturity Date:
July 17, 2006
Issue Price (as a percentage of Regular Record Dates:
Principal Amount): 100% Fifteenth calendar day, whether or not
a Business Day, immediately preceding
the corresponding Interest Payment Date
Interest Rate: 7.50% Interest Payment Dates:
Each January 17th and July 17th
commencing January 17, 1997 and ending
on the Maturity Date
Commission or discount (as a CUSIP: 45920Q AD6
percentage of Principal Amount): 0%
Redemption Provisions:
The Notes are redeemable at the
option of the Company on each
Interest Payment Date occurring
on or after July 17, 1998.
Form: [X] Book-Entry
[ ] Certified
This Pricing Supplement supplements and, to the extent inconsistent
therewith, amends the description of the Notes referred to above in the
accompanying Prospectus Supplement and Prospectus.
<PAGE>
INTEREST
Interest on the Notes will be calculated based on a year of 360 days
consisting of 12 months of 30 days each.
If any payment of principal or interest is due on a day that is not a
Business Day, that payment may be made on the next succeeding Business Day.
No additional interest will accrue as a result of the delay in payment.
For purposes of the offering made hereby, "Business Day" as used herein
and in the accompanying Prospectus Supplement means each day on which
commercial banks and foreign exchange markets settle payments in The City
of New York. Capitalized terms used but not defined herein have the
meanings assigned in the accompanying Prospectus Supplement and Prospectus.
REDEMPTION
The Notes are redeemable by the Company on each Interest Payment Date
occurring on or after the July 17, 1998 Interest Payment Date, in whole
but not in part, on at least 30 days prior notice at a redemption price
of 100% of the principal amount thereof plus accrued interest thereon to
the date of redemption.
PLAN OF DISTRIBUTION
The Notes will be sold to Lehman Brothers at the Issue Price set forth
above for resale to one or more investors at varying prices related to
prevailing market prices at the time of resale.
Dated: June 21, 1996
