Pricing Supplement No.16 Dated December 28, 1993 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: $5,000,000
Issue Price: 100%
Commission or Discount: 0
Proceeds to Company: 100.00% ($5,000,000.00)
Agent:MERRILL LYNCH
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: December 28, 1993
Stated Maturity: December 28, 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: 4.25
Interest Reset Period: Yearly
Interest Reset Dates:
Interest Determination Dates: 4.24% 12/24/93 & 6/24/94;
5.75% 12/26/94 & 6/26/95; 7.25% 12/26/95 & 6/26/96;
10% - 6 mth Libor (Bond) 12/26/96 & 6/26/97
10.375 - 6 mth Libor (Bond) 12/25/97 & 6/25/98.
Interest Payment Dates: 06/28/94, 12/28/94, 06/28/95, 12/28/95,
06/28/96, 12/30/96, 06/30/97. 12/29/97, 06/29/98,
12/28/98.
Index Maturity: Yearly
Spread (+/-):
Spread Multiplier:
Maximum Interest Rate: N/A
Minimum Interest Rate: N/A
Optional Redemption : Yes[ ] No [ ]
Redemption Dates
and Prices:
