Rule 424 (b) (3)
Registration No.33-38560
Pricing Supplement No. C3, Dated January 24, 1995
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(To Prospectus Dated April 21, 1994 and
Prospectus Supplement Dated April 21, 1994)
CUSIP No: 87943H AW 9
Telephone and Data Systems, Inc.
Medium-Term Notes, Series C
Due From Nine Months to Thirty Years From Date of Issue
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Fixed Rate Note
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Principal Amount: $5,000,000 Trade Date: January 24, 1995
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Issue Price: $5,000,000 Original Issue Date: January 30, 1995
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Interest Rate: 9.20% Maturity Date: January 30, 2007
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Agent's Discount or Net Proceeds to
Commission: $37,500 Issuer: $4,968,750
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Form: X Book Entry Certificated
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Depository: DTC #5132
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Selling Agent:___ SALOMON BROTHERS INC __X__ MERRILL LYNCH & CO.
Selling Agent acting in the capacity as indicated below:
X Agent Principal
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If as principal, the following shall apply:
[Salomon Brothers][Merrill Lynch] has purchased the
Notes as principal in this transaction for resale to
one or more investors at varying prices related to
prevailing market conditions at the time or times or
resale as determine by [Salomon Brothers][Merrill
Lynch].
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Redemption (at the option of the Company):
______The Notes cannot be redeemed prior to the Maturity Date.
__X___The Notes may be redeemed prior to the Maturity Date:
Initial Redemption Date: January 30, 2002
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Annual Redemption Percent: Par (100) %
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Repayment (at the option of the Holder)
___X__ The Notes cannot be repaid prior to the Maturity Date.
______ The Notes may be repaid prior to the Maturity Date:
Repayment Date: _______________________________
Repayment Price: _______________________%
Original Issue Discount Note: __________ Yes ____X_____ No
Total Amount of OID: _________________________________
Yield to Maturity: ___________________________________
Initial Accrual Period OID: ___________________________
Unless otherwise indicated, the Company shall not have the option
to reset the Interest Rate or extend the Maturity Date of the
Notes.
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