Pricing Supplement No.134 Dated March 4, 1996,
to Prospectus Dated November 9, 1994
as Supplemented by Prospectus Supplement Dated
March 22, 1995
ASSOCIATES CORPORATION OF NORTH AMERICA
MEDIUM TERM SENIOR NOTES, SERIES H
$25,000,000 principal amount of the Series G Notes, bearing interest at 6.55%
per annum and maturing on February 28, 2006, are being sold by the Company to
Bear, Stearns & Co. Inc. at a price of 99.829% of their principal amount.
Such Notes may be offered to the public at varying prices depending upon
market conditions at the time of resale, as determined by Bear, Stearns & Co.
Inc.
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 March 7,
1996, 1996.
Prior to this Pricing Supplement, $ 1,090,270,000 aggregate principal amount
of the Series H Notes offered pursuant to the Prospectus Supplement dated
March 22, 1995 to the Prospectus dated November 9, 1994 has been sold at the
interest rates then in effect. On November 16, 1995 the Company reduced the
amount of the aggregate principal amount of the Series H Notes available for
sale under the Prospectus and the Prospectus Supplement referred to above by
$100,000,000 from $1,500,000,000 to $1,400,000,000.
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 Annual Report on Form 10-K for the year ended
December 31, 1994 and its Current Report on Form 8-K dated February 14, 1996
(in millions):
<TABLE>
<CAPTION>
Year Ended
or at December 31
1994 1995
<S> <C> <C>
Revenue $ 4,387.9 $ 5,384.4
Earnings Before Provision for
Income Taxes $ 972.6 $ 1,121.4
Net Earnings $ 603.5 $ 708.1
Finance Receivables (net of
unearned finance income and
allowance for losses) $30,043.3 $35,259.1
Stockholders' Equity $ 3,786.1 $ 4,444.0
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Recent Developments
On February 9, 1996, the Company's immediate parent corporation, Associates
First Capital Corporation ("AFCC"), announced that a registration statement
had been filed with the Securities and Exchange Commission for a potential
initial public offering of up to a 19.8% interest in AFCC's common stock.
</TABLE>
