Pricing Supplement No.17N Dated August 7, 1998 Rule 424(b)(2)
(To Prospectus dated June 9, 1997 and File No's. 33-64261
Prospectus Supplement dated June 12, 1997) and 33-49965
THE CHASE MANHATTAN CORPORATION
[ ] Senior Medium -Term Notes, Series C Due From Nine
Months to Thirty Years from Date of Issue
[X] Subordinated Medium Term Notes , Series A Due From
Nine Months to Thirty Years from Date of Issue
Principal Amount: $25,000,000
Issue Price: 100.00%
Commission : $0%
Proceeds to Company: $25,000,000
Agent: MORGAN STANLEY & CO. INCORPORATED
Agent's Capacity: [ ] As agent [X] As principal
If as principal
[X] The Notes are being offered at varying prices relating 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: AUGUST 27, 1998
Stated Maturity: AUGUST 27, 2008
Form: [X] Book-entry [ ] Certificated
Currency: U.S. Dollars
Interest Rate:
The Notes will bear interest during the period from the Original
Issuance Date to but not including the first Reset Date at a rate
per annum equal to the Initial Interest Rate specified below.
Thereafter, the Notes will bear interest during each period beginning
on and including the applicable Reset Date and ending on but excluding
the following Reset Date at a rate per annum equal to the greater of:
(A) 1.6%; and
(B) the sum of:
(i) 1.6%;
plus
(ii) 4 times the 5% Payout Rate specified below with
respect to the applicable Reset Date (if the 5% Payout
Rate is greater than 0%);
plus
(iii) 8 times the 4.5% Payout Rate specified below with
respect to the applicable Reset Date (if the 4.5% Payout
Rate is greater than 0%);
plus
(iv) 8 times the 4% Payout Rate specified below with
respect to the applicable Reset Date (if the 4% Payout
Rate is greater than 0%);
plus
(v) 12 times the 3.5% Payout Rate specified below with
respect to the applicable Reset Date (if the 3.5% Payout
Rate is greater than 0%);
plus
(vi) 4 times the 3.0% Payout Rate specified below with
respect to the applicable Reset Date (if the 4% Payout
Rate is greater than 0%).
Payout Rates: "5% Payout Rate" means, with respect to any Reset Date,
the excess (if any) of 5% per annum over LIBOR Telerate (as defined
in and calculated pursuant to the Prospectus Supplement) with respect
to that Reset Date; "4.5% Payout Rate" means, with respect to any
Reset Date, the exces (if any) of 4.5% per annum over LIBOR Telerate
with respect to that Reset Date; "4% Payout Rate" means, with respect
to any Reset Date, the excess (if any) of 4% per annum over LIBOR
Telerate with respect to that Reset Date; "3.5% Payout Rate" means,
with respect to any Reset Date, the excess (if any) of 3.5% per
annum over LIBOR Telerate with respect to that Reset Date; and "3.0%
Payout Rate" means, with respect to any Reset Date, the excess (if
any) of 3.0% per annum minus LIBOR Telerate with respect to that
Reset Date.
Interest shall be calculated on the basis of a year of twelve
30-day months.
Reset Dates: Each Interest Payment Date with respect to the preceding
interest period shall be the Reset Date for the following interest
period.
Interest Determination Dates: Second London Business Day preceding
each Reset Date.
Interest Payment Dates: The 27th of each November, February, May
and August, commencing November 27, 1998; provided that if an Interest
Payment Date would otherwise fall on a day that is not a Business Day,
such Interest Payment Date shall be posponed until the next following
Business Day, unless such posponement would cause such Interest
Payment Date to occur in the following calendar month, in which case
such Interest Payment Date shall be brought forward to the preceding
Business Day.
Index Maturity: 3 months
Optional Redemption : Yes [ ] No [X]
Minimum Denominations/Interest: The Notes may be issued only in
denominations of $5,000,000 and integral multiples of $1,000 in
excess thereof. For so long as the Notes remain in global form, each
beneficial owner of an interest in the global Note, by acceptance
of its interest in the global Note, shall be deemed to have agreed
that any transfer by it of any interest in the global Note shall be
in a minimum principal amount of $5,000,000.
OTHER CONSIDERATIONS:
Risk Factor: Effects of Changes in Interest Rates:
In the event LIBOR falls below 5% per annum at any time,
increases and decreases in LIBOR will have a disproportionate
impact on the rate of interest payable on the Notes. Accordingly,
the market price of the Notes may be subject to substantial volatility
in the event of changes in prevailing interest rates.
Certain Federal Income Tax Considerations:
The Notes will not be Original Issue Discount Notes.
Consequently, interest on a Note will be taxable to the initial
United States Holder as ordinary income at the time it is paid or
accrued in accordance with the United States Holder's method of
accounting for tax purposes.
