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Pricing Supplement Number 1, 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: 86732PAD0
SUNDSTRAND CORPORATION
MEDIUM-TERM NOTES - FLOATING RATE NOTE
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<CAPTION>
- --------------------------------------------------------------------------------------
<S> <C>
PRINCIPAL AMOUNT: $70,000,000.00 INITIAL INTEREST RATE: 5.84938%
- --------------------------------------------------------------------------------------
AGENTS DISCOUNT OR COMMISSION: $105,000.00 STATED MATURITY DATE: MARCH 15, 2000
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NET PROCEEDS TO ISSUER: $69,895,000.00 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: March 15, 1999 SPREAD (+/-): + 0.63%
INTEREST RESET DATES: Each March 15, June 15, Sept 15, and Dec 15 SPREAD MULTIPLIER: not applicable
INTEREST PAYMENT DATES: Each March 15, June 15, Sept 15, and Dec 15 MAXIMUM INTEREST RATE: not applicable
INDEX MATURITY: 3-month MINIMUM INTEREST RATE: not applicable
DAY COUNT CONVENTION:
X Actual/360 for the period from December 17, 1998 to March 15, 2000
- ----
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 US dollars, see attached)
Minimum Denominations: not applicable
(Applicable only if Specified Currency is other than US 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....................................... $45,500,000
First Chicago Capital Markets, Inc............................. 12,250,000
NationsBanc Montgomery Securities LLC.......................... 12,250,000
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Total.................................................. $70,000,000
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