Pricing Supplement Dated August 15, 1995 Rule 424 (b) (3)
File No. 33-52669
(To Prospectus dated June 23, 1994 and
Prospectus Supplement dated June 23, 1994)
PHH CORPORATION
Medium-Term Notes
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<S> <C> <C> <C>
Principal Amount: $150,000,000 Trade date: August 15, 1995
Currency or Currency Unit: U.S. Dollars Original Issue Date: August 21, 1995
Issue Price: 100.00% * Agent's Discount or Commission: 0.00%
Net Proceeds to Issuer: $150,000,000 Agent (s): CS First Boston Corporation
Maturity Date: August 21, 1996 Other Terms: None
CUSIP Number: 69332H CS 3
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* The Agent agrees to purchase the Notes at 100%. The
Agent proposes to offer the Notes from time to time for
resale in negotiated transactions or otherwise, at market
prices prevailing at the time of resale, at prices related
to such prevailing market prices or at negotiated prices.
Interest:
Fixed Rate:
Floating Rate:
<TABLE>
<S> <C>
Base Rate: [X] Commercial Paper (30 day H.15) [ ] CD Rate [ ] Federal Funds Effective Rate
[ ] LIBOR [ ] Treasury Rate [ ] Prime Rate [ ] Other
( ) Reuters (see attached)
( ) Telerate
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Initial Interest Rate: To be set on August 17, 1995
Interest Reset Dates: Monthly, on the 21st or next Business Day of each
month, commencing September 21, 1995
Interest Determination Date: Two Business Days prior to the Reset Date
Day Count Fraction: Actual/360
Interest Payment Dates: Monthly, on the 21st day or next Business Day of
each month, commencing September 21, 1995
Index Maturity: 1 month
Spread: minus 0.06%
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
