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. 78355HCD9
$200,000,000
RYDER SYSTEM, INC.
Medium-Term Notes, Series 8
(Registered Notes--Fixed Rate)
Due from 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, 1999
Interest Rate: 6.99%
__ __
Form /X/ Book Entry / / Certificated
__
Redemption: /X/ The Notes cannot be redeemed prior to maturity.
__
/ / The Notes may be redeemed prior to maturity.
Terms of Redemption: N/A
__
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
__ __
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: