Rule 424(b)(3)
File No. 33-49401
PRICING SUPPLEMENT NO. 3, DATED JULY 7, 1994
(To Prospectus dated April 15, 1994
and Prospectus Supplement dated April 15, 1994)
NATIONAL FUEL GAS COMPANY
(Medium-Term Notes, Series C)
Trade Date: July 7, 1994
Principal Amount: $50,000,000
Price to Public: 100.000%
Issue Date: July 14, 1994 (the Offered Notes
will bear interest from July 14, 1994)
Maturity Date: July 15, 2024
Interest Rate: 8.48%
Underwriting Discount: .701%
Proceeds to the Company: $49,649,500
Redemption Terms: Redeemable, at the option of the Company, on
or after July 14, 1999 at the Redemption
Prices set forth below:
(If redeemed during
the twelve months
ending July 13) Regular Redemption
Year Redemption Price (%)
------------------- --------------------
2000 106.36
2001 105.94
2002 105.51
2003 105.09
2004 104.66
2005 104.24
2006 103.82
2007 103.39
2008 102.97
2009 102.54
2010 102.12
2011 101.70
2012 101.27
2013 100.85
2014 100.42
2015 and thereafter 100.00
UNDERWRITING
Subject to the terms and conditions set forth in a
Terms Agreement, dated July 7, 1994 between Kidder, Peabody & Co.
Incorporated (the "Purchaser") and the Company (the "Terms
Agreement"), the Purchaser has agreed to purchase from the
Company, and the Company has agreed to sell to the Purchaser, as
principal, $50,000,000 principal amount of the Offered Notes.
Under the terms and conditions of the Terms Agreement,
the Purchaser is authorized to utilize a selling or dealer group
in connection with the resale of the Offered Notes.
The Company has been advised by the Purchaser that it
proposes to offer the Offered Notes to one or more investors or
other purchasers, including other dealers, from time to time in
one or more transactions, including negotiated transactions, at
varying prices related to prevailing market prices at the time of
resale.
