1 Filed Pursuant to Rule 424(b)(2) Registration No. 33-61601-01 BANPONCE FINANCIAL BANPONCE FINANCIAL CORPORATION CORPORATION C/O CT Corporation 1309 Oranage Street Wilmington, Delaware 19801 May 13, 1996 VIA EDGAR Securities and Exchange Commission 450 Fifth Street, N.W. Washington, DC 20549 BanPonce Financial Corporation FORM TYPE: 424(B)(2) I have enclosed with this letter, for filing pursuant to Rule 424(b)(2) under the Securities Act of 1933, as amended (the "Act"), in accordance with Regulation S-T, a copy of the Pricing Supplement dated May 13, 1996, to the Prospectus dated September 27, 1995 and the Prospectus Supplement dated October 6, 1995. Subject Pricing is related with the Registration Statements on Forms S-3 (No. 33-61601-01) of BanPonce Financial Corporation. Cordially, /s/ Eric J. Pacheco - ------------------- Eric J. Pacheco Vice President ges Enclosure 2 Pricing Supplement, dated May 13, 1996 to Prospectus dated September 27, 1995 and Prospectus Supplement dated October 6, 1995 BanPonce Financial Corporation MEDIUM-TERM SERIES C Due From Nine Months to 30 Years From Date of Issue Unconditionally Guarantee as to Payment of Principal, Premium, if any, and Interest by BANPONCE CORPORATION PRINCIPAL AMOUNT .................................. U.S. $15,000,000.00 ORIGINAL ISSUE DATE................................ May 15, 1996 MATURITY DATE ..................................... May 17, 1999 GLOBAL NOTE ....................................... Yes INITIAL INTEREST RATE ............................. 6.71% 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 Financial Corporation Subsidiaries.