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Pricing Supplement Dated September 26, 1997 Rule 424 (b) (3)
(To Prospectus dated June 5, 1997 and File No. 333-27715
Prospectus Supplement dated September 5, 1997)
PHH CORPORATION
MEDIUM-TERM NOTES
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Principal Amount: $50,000,000 Trade date: September 26, 1997
Currency or Currency Unit: US Dollars Original Issue Date: October 1, 1997
Issue Price: 100% Agent's Discount or Commission: 0.00%
Net Proceeds to Issuer: $50,000,000 Agent (s): Credit Suisse First Boston Corporation
Maturity Date: October 1, 1998 CUSIP Number: 69332H ER 3
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Interest:
Fixed Rate:
Floating Rate:
Base Rate: [ ] Commercial Paper Rate [ ] CD Rate [ ] Federal Funds Effective Rate
[X] LIBOR [ ] Treasury Rate [ ] Prime Rate [ ] Other
( ) Reuters Page: (see attached)
(X) Telerate Page: 3750
Spread: minus .10%
Initial Interest Rate: To Be Determined September 29, 1997
Interest Reset Dates: October 30, 1997; January 30, 1998; April 30, 1998 and July 30, 1998 or next good business
day.
Interest Determination Date: Quarterly, 2 London Banking Days prior to interest reset dates.
Interest Payment Dates: October 30, 1997; January 30, 1998; April 30, 1998 and July 30, 1998 or next good business
day.
Index Maturity: Quarterly.
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
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