Pricing Supplement No. 23; Dated April 8, 1994 Rule 424(b)(3)
(To Prospectus dated March 11, 1988 and File No. 33-20359
Prospectus Supplement dated May 21, 1992) CUSIP No. 783556CD9
$200,000,000
RYDER SYSTEM, INC.
Medium-Term Notes, Series 8
(Registered Notes--Fixed Rate)
Due Nine Months to Thirty Years from Date of Issue
Principal Amount: $5,000,000 (Five million)
Issue Price: $5,000,000 (Five million) (100%)
Issue Date: April 15, 1994
Maturity Date: April 15, 1994
Interest Rate: 6.99%
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Form: /X/ Book Entry / / Certificated
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Redemption: /X/ The Notes cannot be redeemed prior to
maturity.
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/_/ The Notes may be redeemed prior to maturity.
Terms of Redemption: N/A
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Repayment at option of holder: /X/ The holder has no option to
elect repayment of the Notes
__ prior to maturity.
/ / The Notes are repayable prior
to maturity at the option of
holder.
Terms of Repayment: N/A
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Discount note: /_/ Yes /X/ No
Total Amount of OID: N/A
Yield to Maturity: 6.99%
Initial Accrual Period OID: N/A
Name of Agent and Agent's Discount or Commission:
J.P. Morgan $25,000
Additional Terms: