FORM 3
U.S. SECURITIES AND EXCHANGE COMMISSION _____________________
WASHINGTON, D.C. 20549 | OMB APPROVAL |
INITIAL STATEMENT OF |_____________________|
BENEFICIAL OWNERSHIP OF SECURITIES |OMB NUMBER: 3235-0104|
|EXPIRES: |
| SEPTEMBER 30, 1998 |
Filed pursuant to Section 16(a) of the |ESTIMATED AVERAGE |
Securities Exchange Act of 1934, |BURDEN HOURS |
Section 17(a) of the Public Utility |PER RESPONSE 0.5 |
Holding Company Act of 1935 |_____________________|
or Section 30(f) of the Investment
Company Act of 1940
____________________________________________________________________________
1. Name and Address of Reporting Person
First USA, Inc.
____________________________________________________________________________
(Last) (First) (Middle)
1601 Elm Street, 47th Floor
____________________________________________________________________________
(Street)
Dallas, Texas 75201
____________________________________________________________________________
(City) (State) (Zip)
____________________________________________________________________________
2. Date of Event Requiring Statement (Month/Day/Year)
January 19, 1997
____________________________________________________________________________
3. IRS OR SOCIAL SECURITY NUMBER OF REPORTING PERSON (VOLUNTARY)
75-2291060
____________________________________________________________________________
4. Issuer Name and Ticker or Trading Symbol
Banc One Corporation ONE
___________________________________________________________________________
5. RELATIONSHIP OF REPORTING PERSON(S) TO ISSUER (CHECK ALL APPLICABLE)
( ) DIRECTOR
(x) 10% OWNER
( ) OFFICER (GIVE TITLE BELOW)
( ) OTHER (SPECIFY TITLE BELOW)
Becoming Beneficial Owner
___________________________________________________________________________
6. IF AMENDMENT, DATE OF ORIGINAL (MONTH/DAY/YEAR)
____________________________________________________________________________
7. INDIVIDUAL OR JOINT/GROUP FILING (CHECK APPLICABLE LINE)
_X_FORM FILED BY ONE REPORTING PERSON
___FORM FILED BY MORE THAN ONE REPORTING PERSON
============================================================================
TABLE I - NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
____________________________________________________________________________
|1. TITLE OF SECURITY|2. AMOUNT OF |3. OWNERSHIP |4. NATURE OF INDIRECT |
| (INSTR. 4) | SECURITIES | FORM DIRECT| BENEFICIAL OWNERSHIP|
| | BENEFICIALLY| DIRECT (D) | (INSTR. 5) |
| | OWNED | OR INDIRECT| |
| | (INSTR. 4) | (I) (INSTR.| |
| | | 5) | |
|____________________|_______________|______________|_______________________|
[TYPE ENTRIES HERE]
None
============================================================================
TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
____________________________________________________________________________
1. Title of Derivative Security (Instr. 4)
Option to purchase common stock, without par value, of Banc One Corporation
____________________________________________________________________________
2. Date Exercisable and Expiration Date (Month/Day/Year)
(1) (1)
Date Exercisable Expiration Date
____________________________________________________________________________
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)
Common Stock, without par value, of 85,025,391
Banc One Corporation _______________________________
_________________________________ Amount of Number of Shares
Title
____________________________________________________________________________
4. Conversion or Exercise Price of Derivative Security
$45.125 (1)
____________________________________________________________________________
5. Ownership Form of Derivative Security: Direct(D) or Indirect(I)(Instr. 5)
D
____________________________________________________________________________
6. Nature of Indirect Beneficial Ownership (Instr. 5)
============================================================================
EXPLANATION OF RESPONSES:
(1) See attachment 1 hereto.
FIRST USA, INC.
- -----------------
By: /s/ Philip E. Taken January 29, 1997
Name: Philip E. Taken ______________________
Title: Senior Vice President and DATE
General Counsel
** SIGNATURE OF REPORTING PERSON
_____________________________
** INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACTS CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS.
SEE 18 U.S.C. 1001 AND 15 U.S.C. 78FF(A).
NOTE: FILE THREE COPIES OF THIS FORM, ONE OF WHICH MUST BE MANUALLY SIGNED.
IF SPACE PROVIDED IS INSUFFICIENT, SEE INSTRUCTION 6 FOR PROCEDURE
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION
CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM
DISPLAYS A CURRENTLY VALID OMB NUMBER.
=============================================================================
Attachment 1
On January 19, 1997, First USA, Inc., a Delaware
corporation ("First USA"), and Banc One Corporation, an
Ohio corporation ("Banc One"), entered into an Agreement
and Plan of Merger (the "Merger Agreement") and a Stock
Option Agreement (the "Stock Option Agreement"). The
Merger Agreement provides, subject to the terms and
conditions thereof, for the merger of First USA into Banc
One (the "Merger"), with Banc One as the surviving
corporation.
Pursuant to the Stock Option Agreement, Banc One granted
First USA the option (the "Option") to purchase up to
85,025,391 shares of Banc One common stock, without par
value (the "Banc One Common Stock"), at a price of
$45.125 per share. The Option will become exercisable in
whole or in part at any time prior to its expiration if
(i) Banc One or any of its subsidiaries, without the
prior written consent of First USA, enters into an
agreement with any person (other than First USA or any of
its subsidiaries) to effect any of the following transactions,
(each an "Acquisition Transaction") and such Acquisition
Transaction shall have occurred: (a) a merger,
consolidation or similar transaction involving Banc One
or any of its Significant Subsidiaries (as defined in
Rule 1-02 of Regulation S-X promulgated by the Securities
and Exchange Commission) (other than mergers or
consolidations or similar transactions involving only
Banc One and one or more of its subsidiaries or involving
only any two or more of such subsidiaries); (b) a
purchase, lease or other acquisition of all or a
substantial portion of the assets of Banc One or any of
its Significant Subsidiaries; (c) a purchase or other
acquisition (including by way of merger, consolidation,
share exchange or otherwise) of securities representing
20% or more of the voting power of Banc One or any of its
subsidiaries; or (d) any substantially similar
transaction, or (ii) any person (other than First USA)
shall have acquired beneficial ownership of 20% or more
of the outstanding shares of Banc One Common Stock.
The Option terminates upon the earliest of (i) the
effective time of the Merger, (ii) upon the termination of the
Merger Agreement under certain circumstances or (iii)
otherwise, 12 months after termination of the Merger Agreement
subject, under certain circumstances, to extension for an
additional six months.
