Pricing Supplement No.1 Dated March 31, 1995 Rule 424(b)(2)
(To Prospectus dated March 15, 1995 and File No. 33-57104
Prospectus Supplement dated March 15, 1995)
CHEMICAL BANKING CORPORATION
[ ] Senior Medium -Term Notes, Series D Due From Nine
Months to Thirty Years from Date of Issue
[X] Subordinated Medium Term Notes , Series B Due From
Nine Months to Thirty Years from Date of Issue
Principal Amount: $1,250,000
Issue Price:
Commission or Discount: ($11,562.50)
Proceeds to Company: ($613,437.50)
Agent: SMITH BARNEY
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: MARCH 31, 1995
Stated Maturity: AUGUST 30, 2004
Form: [X] Book-entry [ ] Certificated
Currency: U.S. Dollars
[ ] Fixed Rate Note:
Interest Rate:
[ ] Floating Rate Note: CD[ ] Commercial Paper Rate [ ]
Federal Fund Effective Rate [ ]
LIBOR Telerate [ ] LIBOR Reuter [ ]
Treasury Rate [ ] Prime Rate [ ]
[X] ZERO COUPON
Initial Interest Rate:
Int.Determ.Dates :
Interest Payment Dates:
Index Maturity:
Spread (+/-):
Spread Multiplier:
Maximum Interest Rate:
Minimum Interest Rate:
Optional Redemption : Yes[ ] No [ ]
Redemption Dates
and Prices:
