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RULE 424(b)(3)
REGISTRATION NO. 333-21073
PRICING SUPPLEMENT NO. 4
TO PROSPECTUS DATED MARCH 6, 1997
(As supplemented April 2, 1997)
INTERNATIONAL BUSINESS MACHINES CORPORATION
MEDIUM-TERM NOTES
(Floating Rate Note)
(Due One Year or More from date of issue)
Designation: Floating Rate Original Issue Date:
Medium-Term Notes Due: August 1, 1997
September 1, 1998
Principal Amount: $150,000,000 Maturity Date:
September 1, 1998
Issue Price (as a percentage of Regular Record Dates:
Principal Amount): 100% Fifteenth calendar day
whether or not a
Interest Rate Base: Prime Rate Business Day prior to
the corresponding
Interest Payment Date
Spread: Minus 287.5 basis points
Initial Interest Rate: The Prime Rate Interest Payment Dates:
minus 287.5 basis points, December 1, 1997,
calculated as if the Original March 1, 1998,
Issue Date were an Interest Reset Date June 1, 1998,
and the Maturity
Redemption Provisions: None Date
Commission or Discount (as
a percentage of Principal
Amount): 0.00%
Interest Reset Dates:
CUSIP: 459 20Q AP9 August 4, 1997 and each
Business Day thereafter
through the Maturity Date
Index Maturity: Interest Reset Period:
Not applicable Daily, commencing with and
including each Interest
Reset Date to, but
excluding, the immediately
following Interest Reset
Date
Interest Determination
Dates:
The Original Issue Date
and each Interest Reset Date
Rate Cutoff Dates: The
second Business Day prior
to each Interest Payment
Date
Designated Prime Rate Page: Form:[X] Book-Entry
Telerate page 125 [ ] Certificated
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.
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INTEREST
The Notes will bear interest at a rate reset on the Interest Reset Dates
specified above. The interest rate in effect from the Original Issue Date to
the first Interest Reset Date with respect to the Notes will be the Initial
Interest Rate. Thereafter, the interest rate per annum on the Notes for each
Interest Reset Period will be determined as the Prime Rate minus a
Spread of 287.5 basis points, provided, however, that the interest rate in
effect on each day from, and including, each Rate Cutoff Date to, but
excluding, the Corresponding Interest Payment Date shall be the interest rate
in effect on such Rate Cutoff Date.
Interest on the Notes will be calculated based on the actual number of
days elapsed over a year of 360 days. The initial Calculation Agent with
respect to the Notes will be The Chase Manhattan Bank.
If any Interest Payment Date or any Interest Reset Date would otherwise
be a day that is not a Business Day, such date will be postponed to the next
day that is a Business Day, unless that day falls in the next calendar month,
in which case such date will be advanced to the first preceding day that is a
Business Day. For purposes of the offering made hereby, "Business Day" as
used herein and in the accompanying Prospectus Supplement means any 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.
PLAN OF DISTRIBUTION
The Notes will be sold to Chase Securities Inc. for resale to one or more
investors at a fixed public offering price. After the initial public offering
of the Notes, the public offering price and any concession or discount may be
changed.
Dated: August 1, 1997
