<PAGE> 1
PRICING SUPPLEMENT NO. 1, DATED DECEMBER 16, 1994 RULE 424(B)(3)
FILE NO. 33-50547
(TO PROSPECTUS DATED OCTOBER 22, 1993 AND
PROSPECTUS SUPPLEMENT DATED OCTOBER 12, 1994)
AVCO FINANCIAL SERVICES, INC.
MEDIUM-TERM NOTES, SERIES F
(FLOATING RATE)
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<TABLE>
<S> <C>
Trade Date: December 16, 1994 Initial Interest Rate: Commercial Paper Rate on
Original Issue Date: December 21, 1994 December 19, 1994
Principal Amount: $50,000,000 Base Rate: / / CD Rate /X/ Commercial Paper Rate
/ / Federal Funds Rate
Issue Price: See below / / LIBOR-Reuters / / LIBOR-Telerate
Maturity Date: December 21, 1995 / / Treasury Rate / / Other (see
Form: /X/ Book-Entry / / Certificated attached)
Interest Reset Period:
/ / Daily / / Weekly /X/ Monthly
/ / Quarterly / / Semi-Annually
/ / Annually
Interest Reset Dates: The 21st day of each month
Interest Payment Period: Monthly
Interest Payment Dates: The 21st day of each month,
beginning on January 21, 1995
Index Maturity: One month
Spread (+/-): N/A
Spread Multiplier: N/A
Maximum Interest Rate: N/A
Minimum Interest Rate: N/A
</TABLE>
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Redemption:
/X/ The Notes cannot be redeemed prior to maturity
/ / The Notes may be redeemed prior to maturity
<TABLE>
<CAPTION>
REDEMPTION REDEMPTION
DATE(S) PRICE(S)
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<S> <C> <C>
</TABLE>
Repayment:
/X/ The Notes cannot be repaid prior to maturity
/ / The Notes may be repaid prior to maturity at the option of the holder of
the Note
<TABLE>
<CAPTION>
REDEMPTION REDEMPTION REPAYMENT REPAYMENT
DATE(S) PRICE(S) DATE(S) PRICE(S)
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<S> <C> <C> <C>
</TABLE>
Original Issue Discount Note: / / Yes /X/ No
Total Amount of OID:
Yield to Maturity:
Initial Accrual Period:
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Agent: / / Morgan Stanley & Co. Incorporated
/ / Merrill Lynch & Co.
/X/ Salomon Brothers Inc
/ / Other:
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Agent acting in the capacity as indicated below:
/ / Agent /X/ Principal
If as principal:
/X/ The Notes are being offered at varying prices related to
prevailing market prices at the time of resale. Salomon
Brothers Inc purchased the Notes at 99.98% of principal
amount.
/ / The Notes are being offered at a fixed initial public offering
price of % of principal amount.
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