Pricing Supplement Dated June 21, 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
<TABLE>
<CAPTION>
<S> <C> <C>
Principal Amount: $50,000,000 Trade date: June 21, 1995
Currency or Currency Unit: U.S. Dollars Original Issue Date: June 26, 1995
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: June 26, 1996 Other Terms: None
CUSIP Number: 69332H CN 4
</TABLE>
* 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.
Interest:
Fixed Rate:
Floating Rate:
<TABLE>
<CAPTION>
<S> <C>
Base Rate: [ ] Commercial Paper [ ] CD Rate [ ] Federal Funds Effective Rate
[ ] LIBOR [ ] Treasury Rate [X] Prime Rate [ ] Other
( ) Reuters (see attached)
( ) Telerate
</TABLE>
Initial Interest Rate: To be set on June 26, 1995
Interest Reset Dates: Each Business Day to but excluding the Maturity Date
Interest Determination Date: The H.15 Prime Rate as published each Business
Day on Telerate Page 125
Day Count Fraction: Actual/360, daily weighted average
Interest Payment Dates: September 26, 1995, December 26, 1995, March 26, 1996
and June 26, 1996
Index Maturity: N/A
Spread: minus 2.83%
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
