The Student Loan MarketingAssociation said it plans to price 300 mln dlrs of short-term
floating rate notes due Oct 8, 1987, on Monday.
    The notes are for settlement April 9 and when-issued
trading is expected to begin at 0930 hrs EST April 7, it said.
    Sallie Mae said the notes will be priced at a spread to the
bond equivalent rate of the 91-day Treasury bill with the
interest being reset the day after each weekly T-bill auction.
    It said the notes will be offered in book entry form by a
selling group managed by Sallie Mae in denominations of 10,000
dlrs and 5,000 dlrs increments thereafter.
    Sallie Mae, a federally chartered, stockholder-owned
corporation, is the nation's major financial intermediary
serving the education credit market.
 Reuter
