BANPONCE FINANCIAL CORP, 424B2, 1996-04-23

BANPONCE FINANCIAL CORP
424B2, 1996-04-23
STATE COMMERCIAL BANKS

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<PAGE>   1
                   Pricing Supplement, dated April 23, 1996
                  to Prospectus dated September 27, 1995 and
                 Prospectus Supplement dated October 6, 1995
                                                        
                             BANPONCE CORPORATION

                             MEDIUM-TERM SERIES 2

             Due From Nine Months to 30 Years From Date of Issue

             Payment of Principal, Premium, if any, and Interest



<TABLE>
<S>                                                   <C>
PRINCIPAL AMOUNT .................................... U.S. $20,000,000.00

ORIGINAL ISSUE DATE.................................. April 26, 1996

MATURITY DATE ....................................... April 26, 2000

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

INITIAL INTEREST RATE ............................... 6.75%

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

INDEX MATURITY ...................................... N/A

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

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

INTEREST PAYMENT PERIOD.............................. June 15, December 15 and at
                                                      the maturity date.
</TABLE>


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