Pricing Supplement Dated October 12, 1994 Rule 424 (b) (3)
File No. 33-52669
(To Prospectus dated June 23, 1994 and
Prospectus Supplement dated June 23, 1994)
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PHH CORPORATION
Medium-Term Notes
<S> <C> <C> <C>
Principal Amount: $50,000,000 Trade date: October 12, 1994
Currency or Currency Unit: U.S. Dollars Original Issue Date: October 19, 1994
Issue Price: * Agent's Discount or Commission: $5,000
Net Proceeds to Issuer: $49,995,000 Agent (s): Merrill Lynch & Co.
Maturity Date: October 19, 1995 Other Terms: See Rider 1
CUSIP Number: 69332H CC 8
* The Notes will be sold at market prices prevailing at the time of sale, at
prices related to such prevailing prices or at negotiated prices. The Agent may
be deemed to have received compensation in the form of underwriting discounts.
The Agent may be deemed to be an underwriter and any discount or commission
received by it and any profit on resale of the Notes may be deemed to be
underwriting discounts or commissions.
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Interest:
Fixed Rate:
Floating Rate:
Base Rate: [ ] Commercial Paper [ ] CD Rate [ ] Federal Funds Effective Rate
[ ] LIBOR [X] Treasury Rate [ ] Prime Rate [ ] Other
( ) Reuters (see attached)
( ) Telerate
Initial Interest Rate: To be set on October 18, 1994
Interest Reset Dates: Tuesday of each week
Interest Payment Dates: January 19, 1995, April 19, 1995, July 19, 1995 and
October 19, 1995 (using the following business day
convention)
Index Maturity: 3 month (91 day)
Spread: plus 0.12%
Option to Receive Payments in Specified Currency: [ ] Yes [ ] No
Redemption:
[X] The Notes cannot be redeemed prior to maturity, except as set forth in
the Prospectus
[ ] The Notes may be redeemed prior to maturity
Initial Redemption Date:
Initial Redemption Price: %
Annual Redemption Price Reduction: % until Redemption Price is 100%
of the principal amount
Repayment:
[X] The Notes cannot be repaid prior to maturity, except as set forth in the
Prospectus
[ ] The Notes can be repaid prior to maturity at the option of the holder
on the Notes
Repayment Date:
Repayment Price: %
Discount Note: [ ] Yes [X] No
Total Amount of OID:
Yield to Maturity:
Initial Accrual Period:
Form: [X] Global [ ] Certificated
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Rider 1
Interest payments on the Notes will include the amount of interest accrued from
and including the preceding Interest Payment Date in respect of which interest
has been paid for or duly provided for, to but excluding the applicable Interest
Payment date or Maturity, as the case may be.
