Registration No. 333-73083 Rule 424 (b)(2)
Pricing Supplement No:242 Cusip:14912LF30
Dated: June 23, 1999
Caterpillar Financial Services Corporation
Medium-Term Notes, Series F
(Floating Rate)
With Maturities of 9 Months or More from Date of Issue
Principal Amount: Initial Interest Rate: Proceed Amount:
$50,000,000 Prime - 277 bps $49,975,000
Original Issue Date: Commission Fee: Maturity Date:
06/28/99 $25,000 06/28/2000
Dealer: Index Maturity: Spread +/-:
Chase Securities Inc. Daily -277
Specified Currency: Option to Elect Payment Authorized Denominations
x U.S. dollars in U.S. dollars (only applicable if
_ Other:___________ (only applicable if Specified Currency is
Specified Currency is other than U.S.
other than U.S. dollars): N/A
N/A
The Note is a: Exchange Rate Agent
X Global Note (if other than U.S.
Certificated Note Bank Trust, N.A.): N/A
(only applicable if
Specified Currency
is other than U.S. dollars) Spread Multiplier: N/A
Interest Rate Basis or Bases: Prime - 277 bps
LIBOR Source (only applicable if LIBOR Interest Rate Basis):
Reuters Telerate
LIBOR Currency (only applicable if LIBOR Interest Rate Basis):
Maximum Interest Rate: N/A Interest Payment Period: Quarterly
Interest Payment Dates: Coupons will pay on the 28th of March, June,
September, and December (or next good business
day).
Initial payment due 09/28/99.
Minimum Interest Rate: N/A
Interest Rate Reset Option: _ Yes x No
Optional Reset Dates (only applicable if option to reset spread or spread
multiplier): N/A
Basis for Interest Rate Reset (only applicable if option to reset spread or
spread multiplier): N/A
Minimum Interest Rate: N/A Interest Payment Dates: N/A
Stated Maturity Extension Option: _ Yes X No
Extension Period(s) and Final Maturity Date (only applicable if option to
extend stated maturity): N/A
Basis for Interest Rate During Extension Period (only applicable if option to
extend stated maturity): N/A
Historical Exchange Rate (only applicable if Specified Currency other than
U.S. dollars): N/A
Interest Payment Dates: Coupons will pay on the 28th of March, June,
September, and December (or next good business
day).
Initial payment due 09/28/99.
Interest Determination Dates: Daily, same day as interest reset date.
Calculation Agent (if other than U.S. Bank Trust, N.A.): N/A
Original Issue Discount Note: Total Amount of OID: N/A Terms of Amortizing
__ Yes x No Notes: N/A
Issue Price (expressed
as a percentage of
aggregate principal
amount): 100%
Redemption Date(s) (including Redemption Price(s): N/A
any applicable regular or
special record dates): N/A
Repayment Date(s) (including Repayment Price(s): N/A
any applicable regular or
special record dates): N/A
Other Terms: N/A
The interest rates on the Notes may be changed by Caterpillar Financial
Services Corporation from time to time, but any such change will not affect
the interest rate on any Note ordered prior to the effective date of the
change. Prior to the date of this Pricing Supplement, $1,044.80MM principal
amount of the Notes had been sold at interest rates then in effect.
_________________________________
Pricing Supplement to Prospectus Supplement dated March 25, 1999
and Prospectus dated March 3, 1999.
