Pricing Supplement No.21 Dated January 27, 1994 Rule 424(b)(2)
(To Prospectus dated April 27, 1993 and File No. 33-57104
Prospectus Supplement dated April 30, 1993)
CHEMICAL BANKING CORPORATION
[X] Senior Medium -Term Notes, Series C Due From Nine
Months to Thirty Years from Date of Issue
[ ] Subordinated Medium Term Notes , Series A Due From
Nine Months to Thirty Years from Date of Issue
Principal Amount: $50,000,000
Issue Price: 100%
Commission or Discount: ($92,500.00)
Proceeds to Company: 99.815% ($49,907,500.00)
Agent:SALOMON BROTHERS
Agent's Capacity: [x] As agent [ ] As principal
If as principal
[ ] The Notes are being offered at varying prices to
prevailing market prices at the time of sale
[ ] The Notes are being offered at a fixed initial public
offering price equal to the Issue Price (as a
percentage of Principal Amount).
Original Issue Date: January 27, 1994
Stated Maturity: January 27, 1998
Form: [X] Book-entry [ ] Certificated
Currency: U.S. Dollars
[ ] Fixed Rate Note:
Interest Rate:
[X] Floating Rate Note: CD[ ] Commercial Paper Rate [ ]
Federal Fund Effective Rate [ ]
LIBOR Telerate [X] LIBOR Reuter [ ]
Treasury Rate [ ] Prime Rate [ ]
Initial Interest Rate: 3.35
Interest Reset Period: 3 month
Interest Reset Dates:
Interest Determination Dates: 01/25/94; 03/14/94; 06/13/94;
09/19/94; 12/19/94; 03/13/95; 06/19/95; 09/18/95; 12/18/95;
03/18/96; 06/17/96; 09/16/96; 12/16/96; 03/17/97; 06/16/97;
09/15/97.
Interest Payment Dates: 03/16/94; 06/15/94; 09/21/94; 12/21/94;
03/15/95; 06/21/95; 09/20/95; 12/20/95; 03/20/96; 06/19/96;
09/18/96; 12/18/96; 03/19/97; 06/18/97; 09/17/97; 01/27/98.
Index Maturity: 3 month
Spread (+/-): +.10
Spread Multiplier:
Maximum Interest Rate: N/A
Minimum Interest Rate: N/A
Optional Redemption : Yes[ ] No [ ]
Redemption Dates
and Prices:
