Pricing Supplement Dated May 24, 1994 Rule 424(b)(2)
File Nos. 33-34401
33-34401-1
33-51147
33-51147-01
(To Prospectus dated January 27, 1994 and
Prospectus Supplement dated March 3, 1994)
NYNEX CAPITAL FUNDING COMPANY
Medium-Term Notes, Series B
(Floating Rate) CUSIP NO. 67077E AM8
Unconditionally Guaranteed as to Payment of Principal, Premium, if any, and
Interest by NYNEX Corporation
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Trade Date: May 24, 1994 Base Rate:
Principal Amount: $90,000,000 Commercial Paper
Specified Currency: U.S. Dollars CD Rate
Option to Elect Payment in Specified Federal Funds Rate
Currency (only applicable if Specified X LIBOR (Telerate)
Currency is other than U.S. Dollars): Treasury Rate
Yes X No Prime Rate
Authorized Denominations (only Other
applicable if Specified Currency is
other than U.S. Dollars): Spread Multiplier:
Regular Floating Rate Note: Spread: (+/-) +23 basis points.
X Yes No Initial Interest Rate: See Attached Annex.
Floating Rate/Fixed Rate Note: Index Maturity: 3-month LIBOR (Telerate).
Yes X No Maximum Interest Rate: N/A
Inverse Floating Rate Note Minimum Interest Rate: N/A
Yes X No Fixed Interest Rate: N/A
Issue Price: 100% Fixed Rate Commencement Date: N/A
Selling Agent's Commission: .350% Interest Reset Period: See Attached Annex.
Stated Maturity: June 2, 1997 Interest Reset Dates: See Attached Annex.
Original Issue Date: June 1, 1994 Interest Payment Dates: See Attached Annex.
Date of Note, if other than Regular Record Dates: See Prospectus Supplement.
Original Issue Date: Interest Determination Dates: See Attached Annex.
Net Proceeds to Issuer: $89,685,000
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THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES
AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION NOR HAS THE
SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION PASSED
UPON THE ACCURACY OR ADEQUACY OF THIS PRICING SUPPLEMENT, THE PROSPECTUS
SUPPLEMENT OR THE PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A
CRIMINAL OFFENSE.
Form
X Book-Entry
Certificated
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2
Redemption:
X The Notes cannot be redeemed prior to Stated Maturity
The Notes may be redeemed prior to Stated Maturity
Initial Redemption Date:
Initial Redemption Price: %
Annual Reduction Percentage: %
Extension Provisions:
X The Stated Maturity of the Notes cannot be extended
The Stated Maturity of the Notes can be extended
Extension Periods:
Final Maturity:
Repayment:
X The Notes cannot be repaid prior to Stated Maturity
The Notes can be repaid prior to Stated Maturity at the
option of the holder of the Note
Repayment Date:
Repayment Price: %
Optional Reset Provisions:
X The Spread and/or Spread Multiplier on the Notes cannot
be reset
The Spread and/or Spread Multiplier on the Notes can be
reset at the option of the Company
Optional Reset Dates:
Discounted Security: Yes X No
Total Amount of OID:
Yield to Maturity:
Initial Accrual Period:
Trustee Notification Dates:
Indexed Note (Other than Currency Indexed): Yes X No
Applicable Index:
Method by which principal and interest will be determined:
Currency Indexed Note: No
Base Exchange Rate:
Determination Agent:
Denominated Currency:
Face Amount:
Indexed Currency:
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3
Dual Currency Note: Yes X No
Face Amount Currency:
Optional Payment Currency:
Designated Exchange Rate:
Option Election Dates:
Amortizing Note: Yes X No
Payments of principal and interest will be made quarterly
Payments of principal and interest will be made semiannually
Amortization Schedule is attached hereto as Annex A
Other Provisions:
Annex Attached: X Yes No
Lehman Brothers Morgan Stanley & Co.
Incorporated
J.P. Morgan Securities Inc. X Salomon Brothers Inc
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ANNEX
ANNEX TO PRICING SUPPLEMENT DATED MAY 24, 1994 (to Prospectus dated
January 27, 1994 and Prospectus Supplement dated March 3, 1994)
NYNEX CAPITAL FUNDING COMPANY
Medium-Term Notes, Series B
(Floating Rate) CUSIP 67077E AM8
Unconditionally Guaranteed as to Payment of Principal, Premium if any, and
Interest by NYNEX Corporation
Initial Interest Rate: 3-month LIBOR (Telerate) as of May 27, 1994,
plus Spread.
Interest Reset Period: Quarterly, except that the last Interest Reset
Period shall commence on March 1, 1997, and the
interest rate shall not be reset on June 1,
1997.
Interest Reset Dates: March 1, June 1, September 1 and December 1 of
each year, commencing September 1, 1994 and
ending on March 1, 1997; provided that if any
Interest Reset Date would otherwise be a day
that is not a Business Day, such Interest Reset
Date shall be postponed to the next day that is
a Business Day, except that if such Business
Day is in the next succeeding calendar month,
such Interest Reset Date shall be the next
preceding Business Day.
Interest Payment Dates: March 1, June 1, September 1 and December 1 of
each year, commencing September 1, 1994;
provided that the Interest Payment Date in June
1997 shall be June 2, 1997 in lieu of June 1,
1997; provided further, that if any Interest
Payment Date (including, without limitation a
maturity date) would otherwise be a day that is
not a Business Day, such Interest Payment Date
shall be postponed to the next day that is a
Business Day, except that if such Business Day
is in the next succeeding calendar month, such
Interest Payment Date shall be the immediately
preceding Business Day.
Interest Determination
Dates: The Interest Determination Date pertaining to
an Interest Reset Date shall be the second
London Banking Day next preceding such Interest
Reset Date.