Pricing Supplement No. 30 Dated November 6, 1997,
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
$225,000,000 principal amount of the Series I Notes, bearing interest at
6 1/8% per annum and maturing on November 12, 1999, are being sold by the
Company to UBS Securities LLC at 99.888% 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 UBS Securities LLC.
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 November
12, 1997.
Prior to this Pricing Supplement, $624,650,000aggregate 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. Between July 8, 1997 and October 22, 1977 the Company
reduced the amount of the aggregate principal amount of the Series I Notes
available for sale under the Prospectus and the Prospectus Supplement referred
to above by $1,100,000 from $1,950,000 to $850,000.
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, 1996 and its Quarterly Report on Form 10-Q for the
six months ended June 30, 1997 (in millions):
<TABLE>
<CAPTION>
Year Ended or Six Months Ended
at December 31 or at June 30
1996 1996 1997
--------------- ------ ------
(Unaudited)
<S> <C> <C> <C>
Revenue $ 6,221.4 $ 2,966.5 $ 3,460.9
Earnings Before Provision for
Income Taxes $ 1,305.1 $ 633.1 $ 696.4
Net Earnings $ 823.1 $ 399.3 $ 441.1
Finance Receivables (net of
unearned finance income and
allowance for losses) $40,407.5 $ 38,151.8 $44,304.7
Stockholders' Equity $ 5,086.2 $ 4,824.6 $ 5,525.4
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On October 14, 1997, the Company announced unaudited results for the nine
months ended September 30, 1997. Such results, compared to the unaudited
results of operations for the similar period of the prior fiscal year, were as
follows: Revenue - $5.3 billion (1997), $4.6 billion (1996); Earnings before
Provision for Income Taxes - $1,061.1 million (1997), $959.5 million (1996);
and Net Earnings - $671.1 million (1997), $606.4 million (1996).
On October 8, 1997, Ford Motor Company ("Ford") announced its intention to
distribute to its stockholders all of its shares in Associates First Capital
Corporation, the immediate parent of the Company, subject to receipt of a
favorable ruling from the Internal Revenue Service. Upon consummation of such
spinoff, the Company will no longer be an indirect subsidiary of Ford.
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