<PAGE>
Pricing Supplement No. 25 Filing Under
--- Rule 424(b)(2)
(To Prospectus Supplement dated June 4, 1997
including the Prospectus dated May 21, 1997)
Trade Date: 1/7/98 Registration
------------------- File No.
333-27141
IKON Capital, Inc.
- --------------------------------------------------------------------------------
Medium Term Notes
CUSIP: 45171EAM9
---------------------------------
Principal Amount: $ 25,000,000 Floating Rate Notes: N/A
---------------------- -----------------
Interest Rate (if fixed rate): 5.90% Interest Rate Basis: N/A
-------------- ---------
Interest Payment Date(s): N/A -Commercial Paper Rate:
-------------- ----------
(other than June 15 and December 15) -Prime Rate:
---------------------
Regular Record Date(s): N/A -LIBOR:
---------------- -------------------------
(other than May 31 and November 30) -Treasury Rate:
------------------
Stated Maturity: 01/12/00 -CD Rate:
----------------------- ------------------------
Specified Currency: US DOLLARS -Federal Funds Rate:
-------------------- --------------
Applicable Exchange Rate (if any): N/A -Other:
----- ------------------------
US Dollar $1.00 = N/A
-------------------
Issue Price (as a percentage of
principal amount): 100% Index Maturity: N/A
-------- --------------------
Selling Agent: Spread: N/A
-Lehman Brothers: -----------------------------
---------------- Spread Multiplier: N/A
-Chase Securities, Inc.: ------------------
--------- Maximum Interest Rate: N/A
-Goldman, Sachs & Co: X --------------
------------ Minimum Interest Rate: N/A
-Merrill Lynch & Co: --------------
------------- Initial Interest Rate: N/A
-Other: --------------
-------------------------- Interest Reset Date(s)
(if semi-annually or annually):
Selling Agent's Commission (%): .25%
-------- ----------------------------------
Purchasing Agent: N/A Third Wednesday of: N/A
---------------------- -------------
Purchasing Agent's Discount or Interest Reset Date (if weekly
Commission (%): N/A monthly, or quarterly):
--------------------- -------
Type of Sale: Interest Determination Date(s): N/A
As Agent: X As Principal: -----
---- ---- Calculation Date(s): N/A
Net proceeds to the Company:$24,937,500 ----------------
----------- Calculation Agent: N/A
Settlement date ------------------
(original issue date):01/12/98 Interest Payment Date(s): N/A
--------------- -----------
Redemption Commencement (other than June 15 and December 15)
Date (if any): N/A Regular Record Date(s): N/A
----------------------- -------------
(other than May 31 and November 30)
Redemption Period: N/A Interest Reset Period: N/A
--------------------- --------------
Exchange Rate Agent: N/A
-------------------
Original Issue Discount Security;
Yes: No: X
---- ----
Form:
Book Entry: X Certificated
--- ---
Authorized by: /s/ J.F. Quinn
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