Filed Pursuant to Rule 424 (b)(3)
File No. 33-63627
Pricing Supplement Dated December 5, 1995
(To Prospectus dated November 8, 1995 and
Prospectus Supplement dated November 8, 1995)
PHH CORPORATION
Medium-Term Notes
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Principal Amount: $100,000,000 Trade date: December 5, 1995
Currency or Currency Unit: U.S. Dollars Original Issue Date: December 13, 1995
Issue Price: 100.00% Agent's Discount or Commission: 0.00%
Net Proceeds to Issuer: $100,000,000 Agent (s): CS First Boston Corporation
Maturity Date: December 13, 1996 CUSIP Number: 69332H CY 0
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Interest:
Fixed Rate:
Floating Rate:
Base Rate: [X] Commercial Paper Rate (30 day H.15, MMY) [ ] CD Rate
[ ] Federal Funds Effective Rate
[ ] LIBOR [ ] Treasury Rate [ ] Prime Rate [ ] Other
( ) Reuters Page: (see attached)
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( ) Telerate Page:
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Spread: minus 0.05%
Initial Interest Rate: To be determined December 11, 1995
Interest Reset Dates: Monthly, the 3rd Wednesday or next Business Day of each month commencing
January 17, 1996
Interest Determination Date: Two Business Days prior to Reset Date
Interest Payment Dates: Monthly, the 3rd Wednesday or next Business Day of each month commencing
January 17, 1996
Index Maturity: 1 month
Day Count Convention: [X] Actual/360 [ ] Actual/Actual [ ] 30/360
Option to Receive Payments
in Specified Currency: [ ] Yes [ ] No
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Redemption:
[X] The Notes may not 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 may not be repaid prior to maturity, except as set
forth in the Prospectus.
[ ] The Notes may be repaid prior to maturity at the option of the
holder of 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
Agent's Capacity: [ ] Agent [X] Principal
If as Principal:
[X] 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.
[ ] The Agent proposes to offer the Notes at a fixed initial public
offering price of % of Principal Amount.
If as Agent:
The Notes are being offered at a fixed initial public offering price of
% of Principal Amount.
Other Terms:
