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Filed Pursuant to Rule 424(b)(3)
Registration No. 33-61601
Pricing Supplement, dated February 12, 1997
to Prospectus Supplement dated October 6, 1995
to Prospectus dated September 27, 1995
BANPONCE CORPORATION
Medium-Term Notes, Series 2
Due From Nine Months to 30 Years From Date of Issue
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PRINCIPAL AMOUNT............................. $5,000,000.00
ORIGINAL ISSUE DATE.......................... February 14, 1997
MATURITY DATE................................ February 5, 1999
GLOBAL NOTE.................................. Yes
INITIAL INTEREST RATE........................ 5.62781%
INTEREST RATE BASIS.......................... 3 Month LIBOR
INDEX MATURITY............................... N/A
SPREAD....................................... +.12%
INTEREST RATE RESET PERIOD................... March 17, 1997, June 16, 1997,
Sept. 15, 1997, Dec. 15, 1997,
March 16, 1998, June 15, 1998,
Sept. 14, 1998, and Dec. 14, 1998
INTEREST PAYMENT PERIOD...................... March 19, 1997, June 18, 1997,
Sept. 17, 1997, Dec. 17, 1997,
March 18, 1998, June 17, 1998,
Sept. 16, 1998, Dec. 16, 1998 and at
maturity
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 Purchaser shall have the unconditional right at any time to
demand prepayment of up to 100% of the outstanding principal
amount of this Note by notifying the Issuer seven calendar days
preceding the day on which the prepayment will be made. The
Issuer shall pay to the Purchaser the principal amount under the
Note or the portion thereof to be prepaid and all interest accrued
and not paid theretofore on the date of prepayment. All payments
shall be made in immediately available funds.
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The proceeds from the issuance of the Note to which this Pricing Supplement
relates will be used to finance BanPonce Corporation subsidiaries.
