Pricing Supplement Dated August 31, 1994 Rule 424 (b) (3)
File No. 33-52669
(To Prospectus dated June 23, 1994 and
Prospectus Supplement dated June 23, 1994)
<TABLE>
PHH CORPORATION
Medium-Term Notes
<S> <C> <C> <C>
Principal Amount: $50,000,000 Trade date: August 31, 1994
Currency or Currency Unit: U.S. Dollars Original Issue Date: September 8, 1994
Issue Price: 100.00% Agent's Discount or Commission: 0.00%
Net Proceeds to Issuer: $50,000,000 Agent (s): CS First Boston Corporation
Maturity Date: September 8, 1995 Other Terms: None
CUSIP Number: 69332H CA 2
</TABLE>
Interest:
Fixed Rate:
Floating Rate:
Base Rate: [X] Commercial Paper [ ] CD Rate [ ] Federal Funds Effective Rate
[ ] LIBOR [ ] Treasury Rate [ ] Prime Rate [ ] Other
( ) Reuters (see attached)
( ) Telerate
Initial Interest Rate: To be set on September 6, 1994
Interest Reset Dates: Monthly, on the 8th day or next Business Day of
each month, commencing 10/11/94
Interest Determination Date: Two Business Days prior to reset dates
Interest Payment Dates: Monthly, on the 8th day or next Business Day
of each month, commencing 10/11/94
Index Maturity: 1 month
Spread: minus 0.05%
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
