Ford Motor Credit, the finance arm of Ford Motor Co (F.N), has announced preliminary pricing for its $1.0 billion in five-year notes, said IFR, a Thomson Reuters service.

The 8.70 percent notes were priced at 98.805 to yield 9.00 percent or 656.6 basis points over comparable U.S. Treasuries, IFR said.

The joint lead managers on the sale were Banc of America Merrill Lynch, Citigroup, JPMorgan and Morgan Stanley. (Reporting by Caryn Trokie; Editing by James Dalgleish)