<PAGE>1
Filed Pursuant to
Rule 424(b)(3)
File No. 33-58989
AMENDMENT TO
PRICING SUPPLEMENT NO. 20 DATED
May 16, 1996 TO PROSPECTUS
DATED June 15, 1995 AND PROSPECTUS
SUPPLEMENT DATED June 15, 1995
McDONNELL DOUGLAS FINANCE CORPORATION
Series X Medium-Term Notes
Due Nine Months or More From Date of Issue
Except as set forth herein, the Series X Medium-Term Notes offered hereby
(the "Notes") have such terms as are described in the accompanying Prospectus
dated June 15, 1995, as amended and supplemented by the Prospectus Supplement
dated June 15, 1995 (the "Prospectus").
Aggregate Principal Amount: $5,000,000
Original Issue Date
(Settlement Date): May 20, 1996
Stated Maturity Date: May 21, 2001
Issue Price: 99.95% of Principal Amount
Base Rate: LIBOR: In lieu of LIBOR as defined in the
Prospectus Supplement, LIBOR shall mean the
applicable rate shown on Telerate page 3750.
Index Currency: U.S. Dollars
Designated LIBOR Page: LIBOR Telerate
Spread: 25 basis points
Initial Interest Rate: Base Rate plus Spread, as determined on
May 16, 1996
Index Maturity: Three months
Interest Payment Dates: Commencing August 21, 1996 and thereafter on the
21st calendar day of each February, May, August
and November up to and including the Maturity
Date
Interest Reset Period: Quarterly
Calculation Agent: Bankers Trust Company
Interest Reset Dates: Except for the first Calculation Date, the 21st
calendar day of each February, May, August and
November
<PAGE>
<PAGE>2
Interest Determination
Dates: The second London Business Day preceeding each
Interest Reset Date
Type of Notes Issued: [X] Senior Notes [ ] Fixed Rate Notes
[ ] Subordinated Notes [X] Floating Rate Notes
Optional Redemption: [ ] Yes
[X] No
Form of Notes Issued: [X] Book-Entry Notes
[ ] Certificated Notes
CUSIP Number: 58017DED8
PURCHASE AS PRINCIPAL
This Pricing Supplement relates to $5,000,000 aggregate principal amount
of Notes that are being purchased, as principal, by Merrill Lynch & Co.,
Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") for
resale to one or more investors at varying prices related to prevailing market
conditions at the time or times of resale as determined by Merrill Lynch. Net
proceeds payable by Merrill Lynch to McDonnell Douglas Finance Corporation
(the "Company") will be 99.950% of the aggregate principal amount of the
Notes, or $4,997,500 before deduction of expenses payable by the Company. In
connection with the sale of the Notes, Merrill Lynch may be deemed to have
received compensation from the Company in the form of underwriting discounts
in the amount of .05% or $2,500.
