Rule 424(b)(3)
File No. 33-49967
PRICING SUPPLEMENT NO. 21 DATED April 7, 1995
(To Prospectus Dated August 18, 1993 as supplemented by the
Prospectus Supplement Dated August 18, 1993)
SOUTHWESTERN BELL TELEPHONE COMPANY
Medium-Term Notes, Series C
Due From 9 months or More From Date of Issue
Fixed Rate Note
Interest Rate Per
Trade Date: 04/05/1995 Annum: 7.670%
Settlement Stated Maturity
Date: 04/12/1995 Date: 04/12/2007
Issue Price (expressed as a percentage
of the Principal Amount, before Agent's discount, if any): 100%
Agent's commission or discount from Issue
Price (expressed as a percentage of the Principal Amount): 0.600%
Regular Interest Payment Dates: May 15 and November 15
Form of Note: Book Entry Depository: DTC
Principal amount offered to or through each Agent:
$ 5,000,000 Goldman, Sachs & Co., acting X agent
as:
principal
Morgan Stanley & Co., acting agent
as:
principal
$10,000,000 Merrill Lynch & Co., acting X agent
as:
principal
If acting as principal, the Agents propose to resell the Notes at
varying prices related to prevailing market prices at the time of
resale, as determined by each Agent. Each Agent will be
committed to take and pay for its respective principal amount of
the Notes if any are taken by such Agent.
Redemption:
X The Notes are not redeemable prior to the Maturity Date.
___ The Notes are redeemable prior to the Maturity Date at the
option of the Company on and after ____________ at par.
