Pricing Supplement No.48 Dated March 7, 1995 Rule 424(b)(2)
(To Prospectus dated February 15, 1994 and File No. 33-57104
Prospectus Supplement dated February 15, 1994)
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: $25,000,000
Issue Price: 100%
Commission or Discount: ($17,000.00)
Proceeds to Company: ($24,983,000.00)
Agent: BEAR STEARNS
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 7, 1995
Stated Maturity: MARCH 6, 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: 6.375
Int.Determ.Dates : 03/03/95; 06/02/95; 09/01/95;
12/04/95; 03/04/96; 06/04/96; 09/04/96; 12/04/96;
03/04/97; 06/04/97; 09/04/97; 12/04/97.
Interest Payment Dates: 06/06/95; 09/06/95; 12/06/95;
03/06/96; 06/06/96; 09/06/96; 12/06/96; 03/06/97; 06/06/97;
09/08/97; 12/08/97; 03/06/98.
Index Maturity: 3 month
Spread (+/-): +.125
Spread Multiplier:
Maximum Interest Rate:
Minimum Interest Rate:
Optional Redemption : Yes[ ] No [ ]
Redemption Dates
and Prices:
