Pricing Supplement dated May 16, 1997 Rule 424(b)(3)
(To Prospectus dated December 6, 1996 and File no. 333-15635
Prospectus Supplement dated December 6, 1996)
NEW PLAN REALTY TRUST
Medium-Term Note - Fixed Rate
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Face Amount: $30,000,000
Issue Price: 100%
Interest Rate: 7.35%
Interest Payment Dates: June 15 and December 15
Regular Record Dates: May 31 and November 30
Stated Maturity Date: June 15, 2007
Denominations (if other than
$1000 and integral multiples thereof). _________________
Trade Date: May 13, 1997
Original Issue Date: May 16, 1997
Net Proceeds to Issuer: $29,823,900
Agent's Commission: $176,100
Name of Agent: Merrill Lynch & Co.
Agent acting in the capacity indicated below:
[ ] As Agent
[X] As Principal
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Day Count Convention:
[X] 30/360 for the period from May 16, 1997 to June 15, 2007
[ ] Actual/360 for the period from to
[ ] Actual/Actual for the period from to
[ ] Other (see attached) to
Redemption:
[X] The Notes cannot be redeemed prior to the Stated Maturity Date.
[ ] The Notes may be redeemed prior to Stated Maturity Date.
Initial Redemption Date:
Initial Redemption Percentage: %
Annual Redemption Percentage Reduction: % until Redemption
Percentage is 100% of the Principal Amount.
Repayment:
[x] The Notes cannot be repaid prior to the Stated Maturity Date.
[ ] The Notes can be repaid prior to the Stated Maturity Date at the
option of the holder of the Notes.
Optional Repayment Date(s):
Repayment Price: %
Original Issue Discount: [ ] Yes [X] No
Total Amount of OID:
Yield to Maturity:
Initial Accrued Period:
Form: [X] Book-entry [ ] Certificated
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