PURSUANT TO RULE NO. 424(b)(2)
FILE NO. 333-59181
PRICING SUPPLEMENT NO. 1
to the
Prospectus dated July 28, 1998
and the
Prospectus Supplement dated August 30, 1999
------------------------
$125,000,000
PITNEY BOWES CREDIT CORPORATION
MEDIUM-TERM NOTES, SERIES D
Form of Note:
Global Security
Type of Note:
Fixed Rate Note
Principal Amount:
$125,000,000
Specified Currency:
U.S. dollars
Stated Maturity:
September 29, 2000
Issue Date (Settlement Date):
September 29, 1999
Net Proceeds to the
Issuer (%): 99.9665%
Price to Public (%): 100.0000%
Interest Rate: 5.95%
Interest Payment Date(s):
February 1 and August 1
Redemption: The Notes to which this Pricing Supplement relates
are not redeemable at the option of the Company or
repayable at the option of any holder prior to
September 29, 2000.
Defeasance
and Covenant
Defeasance: The Company may effect defeasance or covenant
defeasance with respect to the Notes only upon
delivery of an opinion of counsel as described in
the Prospectus.
Terms used and not defined herein but defined in the Prospectus
Supplement and Prospectus are used herein as therein defined.
--------------------
Salomon Smith Barney
The date of this Pricing Supplement is September 24, 1999.
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