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Pricing Supplement Number 3,dated December 14, 1998 Rule 424(b)(3)
(To Prospectus dated December 7, 1998 and File Nos. 333-00801 and 333-66981
Prospectus Supplement dated December 8, 1998) CUSIP: 86732PAB4
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<CAPTION>
SUNDSTRAND CORPORATION
MEDIUM-TERM NOTES - FLOATING RATE NOTE
- -------------------------------------------------------------------------------------
<S> <C>
PRINCIPAL AMOUNT: $62,000,000.00 INITIAL INTEREST RATE: 5.76938%
- -------------------------------------------------------------------------------------
AGENTS DISCOUNT OR COMMISSION: $77,500.00 STATED MATURITY DATE: OCTOBER 15, 1999
- -------------------------------------------------------------------------------------
NET PROCEEDS TO ISSUER: $61,922,500 ORIGINAL ISSUE DATE: DECEMBER 17, 1998
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CALCULATION AGENT: The First National Bank of Chicago
INTEREST CALCULATION:
X Regular Floating Rate Note Floating Rate/Fixed Rate Note
- --- ---
Inverse Floating Rate Note Fixed Rate Commencement date:
- ---
Fixed Interest Rate % Fixed Interest Rate %
----- -----
Other Floating Rate Note (see attached)
- ---
INTEREST RATE BASIS:
CD Rate Federal Funds Rate Treasury Rate
- --- --- ---
Commercial Paper Rate X LIBOR 11th District Cost of Funds
- --- --- ---
CMT Rate Prime Rate Other (see attached)
- --- --- ---
If LIBOR: Designated LIBOR Page: LIBOR Reuters, Reuters Page:
--- -----
X LIBOR Telerate, Telerate Page: 3750
--- -----
Designated LIBOR Currency: U.S. dollars
IF CMT Rate: Designated CMT Maturity Index:
----
Designated CMT Telerate Page:
----
INITIAL INTEREST RESET DATE: Each March 15, 1999 SPREAD (+/-): + 0.55%
INTEREST RESET DATES: Each March 15, June 15, and September 15 SPREAD MULTIPLIER: not applicable
INTEREST PAYMENT DATES: Each March 15, June 15, and September 15 and October 15, 1999 MAXIMUM INTEREST RATE: not applicable
INDEX MATURITY: 3-month, except the September 15 reset MINIMUM INTEREST RATE: not applicable
will be on 1-month
DAY COUNT CONVENTION:
X Actual/360 for the period from December 17, 1998 to October 15, 1999
- ---
Actual/Actual for the period from
- ---
30/360 for the period from
- ---
REDEMPTION:
X The Notes cannot be redeemed prior to the Stated Maturity Date.
- ---
The Notes may be redeemed prior to the Stated maturity Date.
- ---
Initial Redemption Date: not applicable
Initial Redemption Percentage: %
-----
Annual Redemption Percentage Reduction: % until Redemption
-----
Percentage is 100% of the Principal Amount
OPTIONAL REPAYMENT:
X The Notes cannot be repaid prior to the Stated Maturity Date
- ---
The Notes can be repaid prior to the Stated Maturity date at the option of
- --- the holder of the Notes
Optional Repayment Dates: not applicable
Repayment Price: %
-----
CURRENCY:
Specified Currency: U.S. dollars
(If other than U.S. dollars, see attached)
Minimum Denominations: not applicable
(Applicable only if Specified Currency is other that U.S. dollars)
ORIGINAL ISSUE DISCOUNT: Yes X No
--- ---
Total amount of OID: not applicable
Yield to Maturity: not applicable
Initial Accrual Period: not applicable
FORM: X Book Entry Certificated
--- ---
AGENTS: X Merrill Lynch & Co. X First Chicago Capital Markets, Inc.
--- ---
X NationsBanc Montgomery Securities LLC Other:
--- ---
AGENTS ARE ACTING IN THE CAPACITY AS INDICATED BELOW:
As Agent: The Notes are being offered at a fixed initial offering price
- --- of % of Principal Amount
-----
X 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 the principal amount.
-----
OTHER PROVISIONS:
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The Agents have agreed to purchase, severally and not jointly, the
following aggregate principal amount of the Medium-Term Notes set forth
opposite their names below:
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<CAPTION>
Principal Amount of
-------------------
Name Medium-Term Notes
---- ------------------
<S> <C>
Merrill Lynch, Pierce, Fenner & Smith
Incorporated.........................................$40,300,000
First Chicago Capital Markets, Inc............................... 10,850,000
NationsBanc Montgomery Securities LLC............................ 10,850,000
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Total....................................................$62,000,000
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