PRICING SUPPLEMENT NO. 97-19 Dated December 4, 1997 Rule 424(b)(2)
To Prospectus Supplement Dated July 25, 1997 File No. 333-30543
BENEFICIAL CORPORATION
Medium-Term Notes, Series I
(Book Entry Notes)
Prudential Securities Incorporated purchased $55,000,000 principal amount of
these Medium-Term Notes, Series I, maturing on January 9, 2001, at a principal
price of $55,000,000 for resale to investors from time to time at prices based
on market conditions at the time of resale.
Floating Rate Notes Due 9 Months or More from Date of Issue
Maturity Date: January 9, 2001 Initial Interest Rate:
Determined as if the Settlement
CUSIP Number: 08172MHH2 Date was an Interest Reset Date
Interest Rate Basis: Interest Reset Dates:
2-Year CMT (See Other Provisions) Same as Interest Payment Dates
Index Maturity: N/A Settlement Date (Issue Date):
December 9, 1997
Specify Other Base Rate: N/A
Calculation Agent
Spread: plus 0.25% The Chase Manhattan Bank
Spread Multiplier: N/A Optional Repayment Date(s):
N/A
Maximum Interest Rate: N/A
Minimum Interest Rate: N/A
Interest Payment Dates:
Quarterly on the 9th of each
March, June, September, and
December, commencing on
March 9, 1998, through and including
the Maturity Date.
Other Provisions
Interest payable on any Interest Payment Date shall be the amount of
interest accrued from and including the immediately preceding Interest
Payment Date, as the cases may be, to but excluding such Interest Payment
Date. The "2-Year CMT Rate" shall mean in the following order of priority:
(i) The rate set forth in H.15(519) as appears on Telerate Page 7051 two
Business Days prior to such Interest Reset Date (the "Interest
Determination Date") opposite the applicable Designated Maturity
under the caption "Daily Treasury Constant Maturities".
(ii) If such rate is no longer displayed, then the 2-Year CMT Rate for
such Interest Reset Date will be such Treasury Constant Maturity rate
for 2-Year Treasuries (or other United States Treasury rate for
2-Year Treasuries) for the Interest Reset Date with respect to such
Interest Reset Date as may then be published by either the Board of
Governors of the Federal Reserve System or the United States
Department of the Treasury that the Calculation Agent determines to
be comparable to the Treasury Constant Maturity rate for the 2-Year
period as formerly published in H.15 (519).
(iii) If such information is not provided, then the 2-Year CMT Rate for the
Interest Reset Date will be calculated by the Calculation Agent and
will be a yield to maturity, based on the arithmetic mean of the
secondary market closing bid side prices as of approximately 3:30
P.M. (New York City time) two Business Days prior to the Interest
Reset Date reported, according to their written records, by three
leading primary United States government securities dealers (each, a
"Reference Dealer") in the City of New York selected by the
Calculation Agent and eliminating the highest quotation (or, in the
event of equality, one of the highest) and the lowest quotation (or,
in the event of equality, one of the lowest), for the most recently
issued direct noncallable fixed rate obligations of the United States
("Treasury Note") with an original maturity of approximately 2 years
and a remaining term to maturity of not less one year. If the
Calculation Agent cannot obtain three such Treasury Note quotations,
the 2-Year CMT Rate for such Interest Reset Date will be calculated
by the Calculation Agent and will be a yield to maturity based on the
arithmetic mean of the secondary market bid side prices as of
approximately 3:30 P.M. (New York City time) on the Interest Reset
Date of three Reference Dealers in The City of New York (from five
such Reference Dealers selected by the Calculation Agent and
eliminating the highest quotation (or, in the event of equality, one
of the highest) and lowest quotation (or, in the event of equality,
one of the lowest), for Treasury Notes with an original maturity of
the number of years for Treasury securities that is greater than two
years and a remaining term to maturity closest to two years and in an
amount of $1 million.
If three or four (and not five) of such Reference Dealers are quoting
as described herein, then the 2-Year CMT Rate will be based on the
arithmetic mean of the bid prices obtained and neither the highest
nor lowest of such quotes will be eliminated. If fewer than three
Reference Dealers selected by the Calculation Agent are quoting as
described herein, the 2-Year CMT Rate will be the 2-Year CMT Rate in
effect on such Interest Reset Date.
Interest shall be calculated on the basis of a 360-day year of
twelve 30-day months.
