BANKAMERICA CORP
424B2, 1994-10-28
NATIONAL COMMERCIAL BANKS
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<PAGE>
 
                                                            Rule 424(b)(2) 
                                                            File No. 33-54385 

PRICING SUPPLEMENT NO. 8
DATED OCTOBER 27, 1994                                        
(To Prospectus Supplement dated
August 22, 1994, including the
Prospectus dated August 22, 1994)


                                  $25,000,000

                            BANKAMERICA CORPORATION

                      SENIOR MEDIUM-TERM NOTES, SERIES I
 
                                   ---------
<TABLE> 
<S>                                        <C> 
      Floating Rate Notes [x]                % Fixed Rate Notes [_]            
                                                                               
      Book Entry Notes    [x]              Certificated Notes   [_]           

Original Issue Date: November 1, 1994     Stated Maturity: November 1, 1999
    
                                           Extended            Notice of        
                                           Maturity            Extension   
                                            Date(s)             Date(s)    
                                           --------            ---------   
                                             N/A                  N/A      
                                                                             
Redemption            Redemption           Specified             
 Date(s)               Price(s)            Currency:           U.S. Dollars
 -------               --------            Authorized                          
On any Interest          100%              Denominations                      
Payment Date on                            (Only applicable if                
or after 11/1/97                           Specified Currency               
                                           is other than                    
                                           U.S. Dollars):      N/A         
Repayment             Repayment    
 Date(s)               Price(s)              
- ---------             ---------            Interest Payment                  
   N/A                   N/A               Period:             3 months
                                           Interest Payment                   
                                           Dates:              See Exhibit A
    
                                           Total Amount of               
                                           OID:                N/A             
                                           Yield to Maturity:  N/A            
                                           Initial Accrual
                                           Period OID and
                                           Designated Method:  N/A
                    
Only applicable to Floating Rate Notes: 
- ---------------------------------------
Initial
Interest Rate:   To be calculated as       Interest Reset                   
                 if 11/1/94 were an        Period:             3 Months
                 Interest Reset Date       Interest Reset      
                                           Dates:              See Exhibit B

Index Maturity: 3 months


Base Rate:                                 Spread (plus or                    
                                           minus):             +.20%      
[_]  CD Rate                               Spread Multiplier:  N/A 
           
[_]  Commercial  Paper Rate                Maximum Interest                   
                                           Rate:               N/A         
[_]  Federal Funds Rate                    Minimum Interest                   
                                           Rate:               N/A
[X]  LIBOR

     Designated LIBOR Page (only
     applicable if Designated LIBOR
     Page is other than Telerate
     Screen Page 3750): N/A

[_]  Treasury Rate

[_]  CMT Rate 

     Designated CMT
     Telerate Page:  N/A

[_]  Prime Rate
</TABLE> 

                            ----------------------
                         (Continued on the next page)



<PAGE>
 
<TABLE>
<CAPTION>

Exhibit A Interest Payment Dates*:                  Exhibit B Interest Reset Dates*:
- ---------                                           ---------
<S>       <C>       <C>       <C>       <C>          <C>       <C>       <C>       <C>       <C>     
 2/1/95    2/1/96    2/1/97    2/1/98    2/1/99       2/1/95    2/1/96    2/1/97    2/1/98    2/1/99  
 5/1/95    5/1/96    5/1/97    5/1/98    5/1/99       5/1/95    5/1/96    5/1/97    5/1/98    5/1/99  
 8/1/95    8/1/96    8/1/97    8/1/98    8/1/99       8/1/95    8/1/96    8/1/97    8/1/98    8/1/99  
11/1/95   11/1/96   11/1/97   11/1/98   11/1/99      11/1/95   11/1/96   11/1/97   11/1/98 

</TABLE>

*  In each case, subject to adjustment as described in the accompanying 
   Prospectus Supplement in the event any such date is not a Business Day as 
   defined in such Prospectus Supplement.

<TABLE> 
<S>                                                <C> 
Trade Date:    October 27, 1994                   Agent's Commission:      N/A 
Name of Agent: Bear, Stearns & Co. Inc.           Proceeds to Corporation: $24,953,750

                                                   [X] Agent is purchasing Notes from
                                                       the Corporation at 99.815% of their
                                                       principal amount as principal for 
[_] Agent is acting as agent for                       resale to investors and other     
    the sale of Notes by the                           purchasers at:
    Corporation at a price to                                                  
    public of:                                     [_] a fixed initial public offering   
                                                       price of 100% of the principal    
[_] 100% of the principal amount                       amount.                           
                                                                      
[_]    % of the principal amount                   [_] a fixed initial public offering   
                                                       price of   % of the principal     
                                                       amount.                           
                                                                               
                                                   [X] varying prices relating to        
                                                       prevailing market prices at time  
                                                       of resale to be determined by     
                                                       Agent.                            
</TABLE> 

                            -----------------------
For purposes of the accompanying Prospectus Supplement and Prospectus,
references to the Agents shall be deemed to include Bear, Stearns & Co. Inc.,
unless the context requires otherwise.
                            -----------------------

                           BEAR, STEARNS & CO. INC.


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