Page 1 of 1 PHH Corporation - pric-sup
Pricing Supplement Dated February 12, 1999 Rule 424 (b) (3)
(To Prospectus dated March 2, 1998 and File No. 333-45373
Prospectus Supplement dated March 2, 1998)
PHH CORPORATION
MEDIUM-TERM NOTES
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Principal Amount: $48,000,000 Trade date: February 12, 1999
Currency or Currency Unit: US Dollars Original Issue Date: February 18, 1999
Issue Price: 100% Agent's Discount or Commission: 0.125%
Net Proceeds to Issuer: $47,940,000 Agents: Chase Securities Inc. and J.P. Morgan & Co.
Maturity Date: February 22, 2000 CUSIP Number: 69332H GS 9
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Interest:
Fixed Rate: 5.61%
Floating Rate:
Base Rate: [ ] Commercial Paper Rate [ ] CD Rate [ ] Federal Funds Effective Rate
[ ] LIBOR [ ] Treasury Rate [ ] Prime Rate [ ] Other
( ) Reuters Page: (see attached)
( ) Telerate Page: _________
Spread: N/A
Initial Interest Rate: N/A
Interest Reset Dates: N/A
Interest Determination Date: N/A
Interest Payment Dates: at Maturity Date
Index Maturity: N/A
Day Count Convention: [X] Actual/360 [ ] Actual/Actual [ ] 30/360
Option to Receive Payments in Specified Currency: [ ] Yes [ ] No
</TABLE>
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.
The Agents or their affiliates from time to time perform investment banking and
other financial services for and engage in general financing and banking
transactions with the Company and its affiliates, including its parent company,
Cendant Corporation ("Cendant"). Federal class action lawsuits have been
commenced against Cendant and others alleging securities law violations in
connection with public statements relating to Cendant's common stock and its
public offering of FELINE PRIDES ("PRIDES") on February 24, 1998. Chase
Securities Inc. has been named as a defendant in the PRIDES case.
