Pricing Supplement No.19 Dated October 16, 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
$15,000,000 principal amount of the Series I Notes, bearing interest at 6.73%
per annum and maturing on October 22, 2001, are offered by the Company through
Lehman Brothers, 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 October 21,
1996.
Prior to this Pricing Supplement, $182,650,000 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
six months ended June 30, 1996 (in millions):
<TABLE>
<CAPTION>
Six Months Ended
or at June 30
1995 1996
(Unaudited)
<S> <C> <C>
Revenue $ 2,591.8 $ 2,966.5
Earnings Before Provision for
Income Taxes $ 534.5 $ 633.1
Net Earnings $ 338.7 $ 399.3
Finance Receivables (net of
unearned finance income and
allowance for losses) $32,733.1 $38,151.8
Stockholders' Equity $ 4,146.4 $ 4,824.6
Recent Developments
On October 15, 1996, the Company announced unaudited results for the nine
months ended September 30, 1996. Such results, compared to the unaudited
results of operations for the similar period of the prior fiscal year, were
as follows: Revenue - $4.6 billion (1996), $4.0 billion (1995); Earnings
Before Provision for Income Taxes - $959.5 million (1996), $833.2 million
(1995); and Net Earnings - $606.4 million (1996), $526.9 million (1995).
</TABLE>
