1 Pricing Supplement, dated April 23, 1996 to Prospectus dated September 27, 1995 and Prospectus Supplement dated October 6, 1995 BANPONCE CORPORATION MEDIUM-TERM SERIES 2 Due From Nine Months to 30 Years From Date of Issue Payment of Principal, Premium, if any, and Interest PRINCIPAL AMOUNT .................................... U.S. $20,000,000.00 ORIGINAL ISSUE DATE.................................. April 26, 1996 MATURITY DATE ....................................... April 26, 2000 GLOBAL NOTE.......................................... Yes INITIAL INTEREST RATE ............................... 6.75% INTEREST RATE BASIS ................................. Fixed INDEX MATURITY ...................................... N/A SPREAD............................................... N/A INTEREST RATE RESET PERIOD........................... N/A INTEREST PAYMENT PERIOD.............................. June 15, December 15 and at the maturity date. The proceeds from the issuance of the Note to which this Pricing Supplement relates will be used to finance BanPonce Corporation Subsidiaries.