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Filed Pursuant to Rule 424 (b) (3)
Registration No. 33-49589
Pricing Supplement No. 13 Dated: April 19, 1995
(To Prospectus dated June 23, 1993 and Prospectus Supplement dated October 8,
1993)
AT&T Corp.
Medium-Term Notes, Series A
Due More than Nine Months From Date of Issue
Fixed Rate Note
Principal Amount: $25,000,000
Agent: Smith Barney Inc. acting as
principal.
Original Issue Date: April 28, 1995
Maturity Date: April 28, 2005
Issue Price: The agent has purchased the notes
as principal at 100.00% of the
Principal Amount for resale to
investors at 100.00% of Principal
Amount. See "Plan of Distribution"
below.
Specified Currency: U.S. Dollars
Note Form: Book-Entry
Interest Rate: From April 28, 1995 through April
27, 1996 7.35%
From April 28, 1996 through April
27, 1997 7.45%
From April 28, 1997 through April
27, 1998 7.55%
From April 28, 1998 through April
27, 1999 7.65%
From April 28, 1999 through April
27, 2000 8.00%
From April 28, 2000 through April
27, 2001 8.25%
From April 28, 2001 through April
27, 2002 8.50%%
From April 28, 2002 through April
27, 2003 9.00%
From April 28, 2003 through April
27, 2004 9.75%
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From April 28, 2004 through April
27, 2005 10.50%
Interest Payment Dates: Semi-annually on each October 28
and April 28 commencing on October
28, 1995. If the Interest Payment
Date is not a New York Banking Day,
interest will be paid on the next
New York Banking Day.
Accrual of Interest: Interest accrues up to, but not
including, the next relevant
Interest Payment Date from, and
including, the next preceding
Interest Payment Date to which
interest has been paid (or from and
including the Original Issue Date
if no interest has been paid on the
Notes) unless the Notes have been
called for redemption as provided
for below.
Calculation Dates: N/A
Calculation Agent: N/A
Redemption: The Notes may be redeemed in whole
only prior to maturity at the
option of the Company.
Optional Redemption Dates: On each April 28 and October 28
commencing on April 28, 1996
Optional Redemption Price: 100% of principal amount.
Annual Redemption Price Reduction: N/A
Repayment: The Notes cannot be repaid prior to
maturity at the option of the
holder.
Renewal: The Notes cannot be renewed by the
holder.
Extension: The Notes cannot be extended prior
to maturity.
Dual Currency Notes: The Company can not make payments
in an optional currency.
Original Issue Discount: This Note is not a Discount Note or
an Original Issue Discount Note.
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Plan of Distribution
See "Issue Price" above. The Agent (acting as principal) has advised
the Company that it proposes to offer the Notes to to the public at 100% of
the principal amount of the Notes.
Taxation
The following discussion of the United States federal income tax
consequences of the ownership of the Notes supplements, and to the extent
inconsistent with replaces, the discussion under the caption "Taxation" in
the Prospectus Supplement dated October 8, 1993. Terms not defined herein
have the same meanings as in the Prospectus Supplement.
This discussion is based on regulations concerning the treatment of
debt instruments issued with original issue discount (the "OID Regulations")
and related provisions of the Code. The OID Regulations are effective for
Notes issued on or after April 4, 1994.
The Notes provide for interest payable semiannually at a fixed rate
that increases annually, commencing on April 28, 1996, and they are callable
at the option of the Company on any interest payment date, commencing on
April 28, 1996, at 100% of their principal amount plus accrued and unpaid
interest. Under the OID Regulations, as under the Proposed OID Regulations,
the issuer of a debt instrument who has a call option will be presumed to
exercise that call option if the yield of the debt instrument, assuming the
call option is exercised, is lower than it would be if the call option were
not exercised. If the call option is presumed to be exercised but the debt
instrument in fact remains outstanding after the call date, the OID
Regulations treat the debt instrument as if it had in fact been called and a
new debt instrument were issued on such date for an amount equal to its
adjusted issue price on that date. This redemption and reissuance are solely
for purposes of the OID Regulations.
Because the interest rate on the Notes increases each year, commencing
on April 28, 1996, and because the Company has the right to call the Notes at
100% of their principal amount plus accrued and unpaid interest on each
interest payment date, commencing on April 28, 1996, the Company intends to
take the position that the call options exercisable on each interest payment
date on which the interest rate on the Notes is increased will be presumed to
be exercised. If the Company does not exercise a call option which is
presumed to be exercised, the Notes will be treated as redeemed and reissued
at 100% of their principal amount. As a result, the Notes will not bear
original issue discount and stated interest on the Notes will be taxable to a
United States Holder as ordinary income at the time that it is received or
accrued, depending on the United States Holder's method of accounting.
While the OID Regulations have amended many provisions of the Proposed
OID Regulations, such amendments are not relevant to the Notes.
