Pricing Supplement No.8 Dated July 24, 1996,
to Prospectus Dated December 4, 1995
as Supplemented by Prospectus Supplement Dated
May 10, 1996
ASSOCIATES CORPORATION OF NORTH AMERICA
MEDIUM TERM SENIOR NOTES, Series I
$10,000,000 principal amount of the Series I Notes, bearing interest at
7.375% per annum and maturing on August 1, 2006, are offered by the Company
through Donaldson, Lufkin & Jenrette Securities Corporation, which, as agent
for the Company, has agreed to use its best efforts to solicit purchasers of
the Notes.
The Notes to which this Pricing Supplement relates will be Fixed Rate Notes
and will be initially issued as Book Entry Notes for settlement on July 29,
1996.
Prior to this Pricing Supplement, $71,000,000 aggregate principal amount of
the Series I Notes offered pursuant to the Prospectus Supplement dated May 10,
1996 to the Prospectus dated December 4, 1995 has been sold at the interest
rates then in effect.
Recent Financial Information
The following summary of certain consolidated financial information of the
Company has been derived principally from information and financial statements
contained in the Company's Quarterly Report on Form 10-Q for the
three months ended March 31, 1996 (in millions):
<TABLE>
<CAPTION>
Three Months Ended
or at March 31
1995 1996
(Unaudited)
<S> <C> <C>
Revenue $ 1,263.2 $ 1,454.2
Earnings Before Provision for
Income Taxes $ 259.6 $ 308.8
Net Earnings $ 166.0 $ 193.8
Finance Receivables (net of
unearned finance income and
allowance for losses) $31,271.6 $36,370.9
Stockholders' Equity $ 3,961.0 $ 4,624.1
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On July 16, 1996, the Company announced unaudited results for the six months
ended June 30, 1996. Such results, compared to the unaudited results of
operations for the similar period of the prior fiscal year, were as follows:
Revenue - $3.0 billion (1996),$2.6 billion (1995); Earnings before Provision for
Income Taxes - $633.1 million (1996), $534.5 million (1995); and Net Earnings -
$399.3 million (1996), $338.7 million(1995).
</TABLE>
