June 6, 1996
Securities and Exchange Commission
450 Fifth Street N.W.
Washington, DC 20549
RE: PHH CORPORATION (REGISTRATION NO. 33-63627)
Gentlemen:
On behalf of PHH Corporation and pursuant to Rule 424 (b) (3) under the
Securities Act of 1933 as amended, we are transmitting herewith for filing one
copy of the Pricing Supplement dated June 5,1996 to the Prospectus Supplement
and Prospectus dated November 8, 1995 of PHH Corporation.
Very Truly Yours
/s/ Mark E. Johnson
Mark E. Johnson
Assistant Treasurer
<PAGE>
Pricing Supplement Dated June 5, 1996 Rule 424 (b) (3)
(To Prospectus dated November 8, 1995 and File No. 33-63627
Prospectus Supplement dated November 8, 1995)
<TABLE>
<CAPTION>
PHH CORPORATION
Medium-Term Notes
<S> <C> <C>
Principal Amount: $100,000,000 Trade date: June 5, 1996
Currency or Currency Unit: U.S. Dollars Original Issue Date: June 10, 1996
Issue Price: 99.99% Agent's Discount or Commission: $10,000
Net Proceeds to Issuer: $99,990,000 Agent (s): J.P. Morgan Securities Inc.
Maturity Date: June 10, 1997 CUSIP Number: 69332H DJ 2
- ---------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C>
Interest:
Fixed Rate: 5.95%
Floating Rate:
Base Rate: [ ] Commercial Paper Rate (30 day H.15, MMY) [ ] CD Rate
[ ] Federal Funds Effective Rate
[ ] LIBOR [ ] Treasury Rate [ ] Prime Rate [ ] Other
( ) Reuters Page: (see attached)
------------------
( ) Telerate Page:
-------------------
</TABLE>
Spread: N/A
Initial Interest Rate: N/A
Interest Reset Dates: N/A
Interest Determination Date: N/A
Interest Payment Dates: June 10, 1997
Index Maturity: N/A
Day Count Convention: [X] Actual/360 [ ] Actual/Actual [ ] 30/360
Option to Receive Payments in Specified Currency: [ ] Yes [ ] No
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:
<PAGE>
June 6, 1996
Securities and Exchange Commission
450 Fifth Street N.W.
Washington, DC 20549
RE: PHH CORPORATION (REGISTRATION NO. 33-63627)
Gentlemen:
On behalf of PHH Corporation and pursuant to Rule 424 (b) (3) under the
Securities Act of 1933 as amended, we are transmitting herewith for filing one
copy of the Pricing Supplement dated June 5,1996 to the Prospectus Supplement
and Prospectus dated November 8, 1995 of PHH Corporation.
Very Truly Yours
/s/ Mark E. Johnson
Mark E. Johnson
Assistant Treasurer
<PAGE>
Pricing Supplement Dated June 5, 1996 Rule 424 (b) (3)
(To Prospectus dated November 8, 1995 and File No. 33-63627
Prospectus Supplement dated November 8, 1995)
<TABLE>
<CAPTION>
PHH CORPORATION
Medium-Term Notes
<S> <C> <C>
Principal Amount: $50,000,000 Trade date: June 5, 1996
Currency or Currency Unit: U.S. Dollars Original Issue Date: June 11, 1996
Issue Price: 100.00% Agent's Discount or Commission: 0.0%
Net Proceeds to Issuer: $50,000,000 Agent (s): CS First Boston Corporation
Maturity Date: June 11, 1997 CUSIP Number: 69332H DK 9
- ---------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C>
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)
------------------
( ) Telerate Page:
-------------------
</TABLE>
Spread: minus 0.02%
Initial Interest Rate: To be determined June 7, 1996
Interest Reset Dates: Monthly, on the 11th of each month commencing
July 11, 1996
Interest Determination Date: Two Business Days prior to Interest Reset Date
Interest Payment Dates: Monthly, on the 11th of each month commencing
July 11, 1996
Index Maturity: 1 month
Day Count Convention: [X] Actual/360 [ ] Actual/Actual [ ] 30/360
Option to Receive Payments in Specified Currency: [ ] Yes [ ] No
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:
<PAGE>
June 6, 1996
Securities and Exchange Commission
450 Fifth Street N.W.
Washington, DC 20549
RE: PHH CORPORATION (REGISTRATION NO. 33-63627)
Gentlemen:
On behalf of PHH Corporation and pursuant to Rule 424 (b) (3) under the
Securities Act of 1933 as amended, we are transmitting herewith for filing one
copy of the Pricing Supplement dated June 5,1996 to the Prospectus Supplement
and Prospectus dated November 8, 1995 of PHH Corporation.
Very Truly Yours
/s/ Mark E. Johnson
Mark E. Johnson
Assistant Treasurer
<PAGE>
Pricing Supplement Dated January 16, 1996 Rule 424 (b) (3)
(To Prospectus dated November 8, 1995 and File No. 33-63627
Prospectus Supplement dated November 8, 1995)
<TABLE>
<CAPTION>
PHH CORPORATION
Medium-Term Notes
<S> <C> <C>
Principal Amount: $50,000,000 Trade date: June 5, 1996
Currency or Currency Unit: U.S. Dollars Original Issue Date: June 12, 1996
Issue Price: See Below Agent's Discount or Commission: 0.00%
Net Proceeds to Issuer: $50,000,000 Agent (s): Merrill Lynch & Co.
Maturity Date: June 12, 1997 CUSIP Number: 69332H DL 7
- ---------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C>
Interest:
Fixed Rate:
Floating Rate:
Base Rate: [ ] Commercial Paper Rate (30 day H.15, MMY) [ ] CD Rate
[ ] Federal Funds Effective Rate
[ ] LIBOR [ ] Treasury Rate [X] Prime Rate [ ] Other
( ) Reuters Page: (see attached)
------------------
( ) Telerate Page:
-------------------
</TABLE>
Spread: minus 2.83%
Initial Interest Rate: To be determined June 11, 1996
Interest Reset Dates: Each Business Day to but excluding the Maturity Date
Interest Determination Date: One Business Day prior to Interest Reset Date
Interest Payment Dates: September 12, 1996, December 12, 1996, March 12,
1997, and June 12, 1997
Index Maturity: N/A
Day Count Convention: [X] Actual/360 [ ] Actual/Actual [ ] 30/360
Option to Receive Payments in Specified Currency: [ ] Yes [ ] No
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:
