Pricing Supplement Dated January 12, 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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Principal Amount: $97,000,000 Trade date: January 12, 1995
Currency or Currency Unit: U.S. Dollars Original Issue Date: January 19, 1995
Issue Price: * Agent's Discount or Commission: $18,430
Net Proceeds to Issuer: $96,981,570 Agent (s): Merrill Lynch & Co.
Maturity Date: January 22, 1996 Other Terms: See Rider 1
CUSIP Number: 69332H CG 9 Agent's Capacity: Principal
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* 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
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Initial Interest Rate: To be set on January 19, 1995
Interest Reset Dates: Tuesday of each week to but excluding the Maturity Date
Interest Payment Dates: April 18, 1995, July 18, 1995, October 17, 1995, and
January 22, 1996 (using the modified following business
day convention)
Index Maturity: 3 month (91 day)
Spread: plus 0.18%
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.
