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Filed Pursuant to Rule 424(b)(2)
Registration No. 33-54299
PRICING SUPPLEMENT DATED FEBRUARY 20, 1996,
TO THE PROSPECTUS, DATED SEPTEMBER 27, 1995,
AND THE PROSPECTUS SUPPLEMENT, DATED OCTOBER 6, 1995
BANPONCE CORPORATION
MEDIUM-TERM NOTES, SERIES 2
DUE FROM NINE MONTHS TO 30 YEARS FROM DATE OF ISSUE
PAYMENT OF PRINCIPAL, PREMIUM, IF ANY, AND INTEREST
PRINCIPAL AMOUNT: U.S. $10,000,000.00
ORIGINAL ISSUE DATE: FEBRUARY 21, 1996
SETTLEMENT DATE: FEBRUARY 21, 1996
MATURITY DATE: MARCH 19, 1997
GLOBAL NOTE: YES
INITIAL INTEREST RATE: 5.25%
INTEREST RATE BASIS: 6 month libor from 2/21/96 to 9/18/96, but not
including 9/18/96. 3 month libor from and
including 9/18/96 to 3/19/97.
INDEX MATURITY: The initial interest rate will be maintained
for the period of 2/21/96 to 9/18/96 and there
will be a single interest payment on 9/18/96,
but not including 9/18/96. Thereafter interest
payments will be on a quarterly basis as
detailed on the Interest Payment Period Section.
SPREAD: +.125%
INTEREST RATE RESET PERIOD: 9/16/96 and 12/16/96.
INTEREST PAYMENT PERIOD: 9/18/96, 12/18/96 and 3/19/97.
REDEMPTION PROVISIONS: "If Banponce Corporation does not maintain
top-tier short-term ratings from a minimum of
two of the six Nationally Recognized Statistical
Rating Organizations, the purchaser shall have
the unconditional right to demand prepayment of
100% of the outstanding principal amount of the
note plus accrued interest. Such demand shall
be made by telephone from the purchaser to the
issuer up until 12:00 p.m., CST, on the same
business day on which the prepayment will be
made. The issuer shall pay to the purchaser the
principal amount under the note(s) and all
interest accrued and not paid therefore on the
date of prepayment. All payments shall be made
in immediately available funds."
The proceeds from the issuance on the Note to which this Pricing Supplement
relates will be used to finance Banponce Corporation subsidiaries.
