UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
(X) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Copeland, Walter B.
250 East Carpenter Freeway
Irving, TX 75062-2729
2. Issuer Name and Ticker or Trading Symbol
Associates First Capital Corporation
AFS
3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
4. Statement for Month/Year
11/30/2000
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (X) Officer (give title below) ( ) Other
(specify below)
Executive Vice President
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
___________________________________________________________________________________________________________________________________
Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Class A Common Stock |11/30/|D |V|28,494.77 |D |(1) |0 |D | |
|00 | | | | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Class A Common Stock |11/30/|D |V|5,000 |D |(2) |0 |I |By Daughter |
|00 | | | | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Class A Common Stock |11/30/|D |V|5,000 |D |(2) |0 |I |By Son |
|00 | | | | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Class A Common Stock |11/30/|D |V|6,673.52 |D |(3) |0 |I |By 401(k) Plan |
|00 | | | | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Class A Common Stock | | | | | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|
<CAPTION>
___________________________________________________________________________________________________________________________________
Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Options with Stock App|$14.50 |11/30|D |V|39,600 |D |(4) |5/7/2|Class A Comm|39,600 |(5) |0 |D | |
reciation Rights | |/00 | | | | | |006 |on Stock | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Stock Options |$21.63 |11/30|D |V|29,000 |D |(4) |1/2/2|Class A Comm|29,000 |(6) |0 |D | |
| |/00 | | | | | |007 |on Stock | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Stock Options |$35.31 |11/30|D |V|32,000 |D |(4) |1/1/2|Class A Comm|32,000 |(7) |0 |D | |
| |/00 | | | | | |008 |on Stock | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Stock Options |$42.25 |11/30|D |V|40,000 |D |(4) |1/4/2|Class A Comm|40,000 |(8) |0 |D | |
| |/00 | | | | | |009 |on Stock | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Stock Options |$26.56 |11/30|D |V|50,000 |D |(4) |1/3/2|Class A Comm|50,000 |(9) |0 |D | |
| |/00 | | | | | |010 |on Stock | | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
Phantom Stock Units |1-for-1 |11/30|D |V|8,100.20 |D |(10) |(10) |Class A Comm|8,100.0|(10) |0 |D | |
| |/00 | | | | | | |on Stock |2 | | | | |
-----------------------------------------------------------------------------------------------------------------------------------|
| | | | | | | | | | | | | | |
___________________________________________________________________________________________________________________________________|
</TABLE>
Explanation of Responses:
1. Disposed of pursuant to a merger agreement between issuer and Citigroup
Inc. in exchange for 20,898.06 shares of Citigroup Inc. common stock having a
market value of $49.81 per share on
the effective date of the
merger.
2. Disposed of pursuant to a merger agreement between issuer and Citigroup
Inc. in exchange for 3,667 shares of Citigroup Inc. common stock having a
market value of $49.81 per share on the
effective date of the
merger.
3. Disposed of pursuant to a merger agreement between issuer and Citigroup
Inc. in exchange for 4,894.36 shares of Citigroup Inc. common stock having a
market value of $49.81 per share on
the effective date of the
merger.
4. All options are exercisable to the extent of 33 1/3% of such shares after
one year from the date of grant, 66 2/3% after two years and in full after
three years.
5.This option was assumed by Citigroup Inc. in the merger and replaced with an
option to purchase 29,043 shares of Citigroup Inc. common stock for $19.77 per
share.
6. This option was assumed by Citigroup Inc. in the merger and replaced with
an option to purchase 21,268.60 shares of Citigroup Inc. common stock for
$29.49 per share.
7. This option was assumed by Citigroup Inc. in the merger and replaced with
an option to purchase 23,468 shares of Citigroup Inc. common stock for $48.15
per share.
8. This option was assumed by Citigroup Inc. in the merger and replaced with
an option to purchase 29,336 shares of Citigroup Inc. common stock for $57.61
per share.
9. This option was assumed by Citigroup Inc. in the merger and replaced with
an option to purchase 36,670 of Citigroup Inc. common stock for $36.22 per
share.
10. These phantom stock units, acquired pursuant to AFC's deferred compensation
plan, were assumed by Citigroup Inc. in the merger and replaced with 5,490.69
Citigroup Inc. phantom stock
units and will be settled upon the reporting person's retirement or other
termination of service.
SIGNATURE OF REPORTING PERSON
/s/ Frederic C. Liskow on behalf of Walter B. Copeland
DATE
December 8, 2000
