PRICING SUPPLEMENT dated August 13, 1998 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 - Floating Rate
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Face Amount: $10,000,000
Issue Price: 100%
Initial Interest Rate: 5.7375%
Base Rate: 3-month LIBOR (Telerate Page 3750)
Spread: + 5 basis points
Interest Reset Dates: Quarterly on the 18th of each February,
May, August and November, commencing
November 18, 1998
Interest Payment Dates: Quarterly on the 18th of each February,
May, August and November, commencing
November 18, 1998
Stated Maturity Date: August 18, 2000
Denominations (if other than
$1000 and integral multiples thereof):
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Trade Date: August 13, 1998
Original Issue Date: August 18, 1998
Net Proceeds to Issuer: $9,980,000
Agent's Discount/Commission: $20,000
Name of Agent: Merrill Lynch, Pierce, Fenner & Smith
Incorporated
Agent acting in the capacity indicated below:
|_| As Agent
|X| As Principal
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Day Count Convention:
|_| 30/360 for the period
|X| Actual/360 for the period from August 18, 1998 to August 18, 2000
|_| Actual/Actual for the period
|_| Other (see attached)
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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