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Proc-Type: 2001,MIC-CLEAR
Originator-Name: keymaster@town.hall.org
Originator-Key-Asymmetric:
 MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq
 pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ==
MIC-Info: RSA-MD5,RSA,
 DubA11lvSbUCzVQRzMOl0L0cvyOjGRdo1kEh5P3WIxdDN+r5Ymc5Qg4HHLiw81Df
 L15cmmAP5dqkjSL94lS+tw==

<IMS-DOCUMENT>0000798263-94-000012.txt : 19941212
<IMS-HEADER>0000798263-94-000012.hdr.sgml : 19941212
ACCESSION NUMBER:		0000798263-94-000012
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19941209
SROS:			MSE
SROS:			NYSE
SROS:			PSE

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SOUTHWESTERN BELL CAPITAL CORP
		CENTRAL INDEX KEY:			0000798263
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				431420172
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	033-45490
		FILM NUMBER:		94564146

	BUSINESS ADDRESS:	
		STREET 1:		175 E. HOUSTON
		STREET 2:		ROOM 9-P-60
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78205
		BUSINESS PHONE:		210-351-30

	MAIL ADDRESS:	
		STREET 1:		175 E. HOUSTON
		STREET 2:		ROOM 9-P-60
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78205

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SOUTHWESTERN BELL CORP
		CENTRAL INDEX KEY:			0000732717
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				431301883
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	033-45490-01
		FILM NUMBER:		94564147

	BUSINESS ADDRESS:	
		STREET 1:		175 E. HOUSTON ROOM 9-N-4
		STREET 2:		P.O. BOX 2933
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78299-2933
		BUSINESS PHONE:		210-351-30

	MAIL ADDRESS:	
		STREET 1:		175 E. HOUSTON ROOM 9-N-4
		STREET 2:		P.O. BOX 2933
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78299-2933
</IMS-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<DESCRIPTION>PRICING SUPPLEMENT
<TEXT>

                                             Rule 424(b)(3)
                                             File No. 33-45490
                                             File No. 33-45490-01


PRICING SUPPLEMENT NO. 32D DATED December 9, 1994
(To Prospectus Dated August 12, 1992, as supplemented by the
Prospectus Supplement Dated August 19, 1992)



SOUTHWESTERN BELL CAPITAL CORPORATION
Medium-Term Notes, Series D
Due From 9 months to 30 Years From Date of Issue


Fixed Rate Note

Trade Date:    12/07/94    Interest Rate Per     8.80%
                           Annum:
                                                 
Settlement     12/14/94    Stated Maturity       12/14/2004
Date:                      Date:                 

Issue Price (expressed as a percentage
of the Principal Amount, before Agent's discount): 100%

Agent's commission or discount from Issue
Price (expressed as a percentage of the Issue Price): .625%


Regular Interest Payment Dates: March 1 and September 1

Form of Note: Book Entry      Depository: DTC

Principal amount offered to or through each Agent:

$           Salomon Brothers Inc, acting as:           ___ agent
                                             ___ principal

$ 1,000,000 CS First Boston Corporation, acting as:     X  agent
                                             ___ principal

$13,000,000 Merrill Lynch & Co., acting as:   X  agent
                                             ___ principal

If acting as principal, the Agents propose to resell the Notes at
varying prices related to prevailing market prices at the time of
resale, as determined by each Agent.  Each Agent will be committed to
take and pay for its respective principal amount of the Notes if any
are taken by such Agent.


Redemption:

The medium-term notes are not redeemable prior to December 14, 1999.
On or after December 14, 1999 and prior to maturity, Southwestern Bell
Capital Corporation, at its option, may redeem all or from time to
time any part of the medium-term notes upon not less than 30 days but
not more than 60 days notice at the following redemption prices
(expressed as a percentage of the principal amount) during the 12-
month periods beginning December 14, in each case together with
accrued interest to the redemption date.


                              Redemption
            Year                     Price
            1999                    102.00%
            2000                    101.00%
            2001                    100.00%

</TEXT>
</DOCUMENT>
</IMS-DOCUMENT>
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