BANPONCE FINANCIAL CORP, 424B2, 1996-02-27

BANPONCE FINANCIAL CORP
424B2, 1996-02-27
STATE COMMERCIAL BANKS

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<PAGE>   1
                 PRICING SUPPLEMENT, DATED FEBRUARY 26, 1996
                  TO PROSPECTUS DATED SEPTEMBER 27, 1995 AND
                 PROSPECTUS SUPPLEMENT DATED OCTOBER 6, 1995

                           BANPONCE FINANCIAL CORP.
                                      
                         MEDIUM-TERM NOTES, SERIES C
                                      
             DUE FROM NINE MONTHS TO 30 YEARS FROM DATE OF ISSUE

             PAYMENT OF PRINCIPAL, PREMIUM, IF ANY, AND INTEREST

              UNCONDITIONALLY GUARANTEED BY BANPONCE CORPORATION

<TABLE>
<S>                                          <C>
PRINCIPAL AMOUNT. . . . . . . . . . . . . .  U.S. $400,000.00

ORIGINAL ISSUE DATE . . . . . . . . . . . .  February  28, 1996

MATURITY DATE . . . . . . . . . . . . . . .  March 2, 1998

GLOBAL NOTE . . . . . . . . . . . . . . . .  Yes

INITIAL INTEREST RATE . . . . . . . . . . .  5.40%

INTEREST RATE BASIS . . . . . . . . . . . .  Fixed

SPREAD. . . . . . . . . . . . . . . . . . .  N/A

INTEREST RATE RESET PERIOD. . . . . . . . .  N/A

INTEREST PAYMENT PERIOD . . . . . . . . . .  June 15, December 15 and at Maturity Date
</TABLE>

The proceeds from the issuance of the Note to which this Pricing Supplement
relates will be used to finance BanPonce Financial Corp. Subsidiaries.