<PAGE> 1
PRICING SUPPLEMENT NO. 3, DATED JANUARY 7, 1994 RULE 424(B)(3)
FILE NO. 33-50547
(TO PROSPECTUS DATED OCTOBER 22, 1993 AND
PROSPECTUS SUPPLEMENT DATED NOVEMBER 12, 1993)
AVCO FINANCIAL SERVICES, INC.
MEDIUM-TERM NOTES, SERIES E
(FLOATING RATE)
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<TABLE>
<S> <C>
Trade Date: January 7, 1994 Initial Interest Rate: 3.4625%
Original Issue Date: January 11, 1994 Base Rate: / / CD Rate / / Commercial Paper Rate
Principal Amount: $50,000,000 / / Federal Funds Rate
/ / LIBOR-Reuters /X/ LIBOR-Telerate
Issue Price: 100% / / Treasury Rate / / Other (see attached)
Maturity Date: January 11, 1999
Form: /X/ Book-Entry / / Certificated Interest Reset Period:
/ / Daily / / Weekly / / Monthly
/X/ Quarterly / / Semi-Annually
/ / Other
Interest Reset Dates: Jan. 11, April 11, July 11
and Oct. 11 of each year
Interest Payment Period: Quarterly
Interest Payment Dates: Jan. 11, April 11, July 11
and Oct. 11 of each year
Index Maturity: N/A
Spread (+/-): +15 Basis Points
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)
--------- ----------
<S> <C>
</TABLE>
Repayment:
/X/ The Notes cannot be repaid prior to maturity
/ / The Notes can be repaid prior to maturity at the option of the holder of
the Note
<TABLE>
<CAPTION>
REPAYMENT REPAYMENT
DATE(S) PRICE(S)
-------- ---------
<S> <C>
</TABLE>
Original Issue Discount Note: / / Yes /X/ No
Total Amount of OID:
Yield to Maturity:
Initial Accrual Period:
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Agent: / / Merrill Lynch & Co.
/ / Morgan Stanley & Co. Incorporated
/ / Salomon Brothers Inc
/X/ Other: Lehman Brothers Inc.
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.
/ / The Notes are being offered at a fixed initial public offering
price of % of principal amount.
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