Rule: 424(b)3
File No: 333-00701
PRICING SUPPLEMENT NO. 3 DATED May 6, 1996
(To Prospectus Supplement dated March 27, 1996
and Prospectus dated March 25, 1996)
FLEET FINANCIAL GROUP, INC.
DUE 9 MONTHS OR MORE FROM DATE OF ISSUE
FIXED RATE NOTE
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Series J (Senior) [ ] Series K (Subordinated) [X]
<TABLE>
<S> <C> <C> <C>
Principal Amount: $15,000,000.00 Original Issue Discount Note: Yes [ ] NO [X]
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Price to Public: See below Total Amount Of OID
Yield to Maturity
Net Proceeds: 97.9% Initial Accrual Period OID
Trade Date: May 6, 1996 IF OTHER THAN USD:
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Issue Date: May 15, 1996 Specified Currency:
Authorized Denominations
Maturity Date: May 15, 2011 Option to Receive Payments in Specified Currency:
[ ] Yes [ ] NO
Interest Rate: 7.75% per annum Place of Payment:
Interest Payment Dates:
- ----------------------
Monthly on the 15th of each month commencing June 15, 1996
- --------------------------------------------------------------------------------------------
</TABLE>
Record Dates: The first calendar day of each month
AGENT: MERRILL LYNCH & CO.
- -----
Agent's Capacity: [X] As Principal [ ] As Agent
REDEMPTION:
- ----------
[ ] The Notes may not be redeemed prior to maturity.
[X] The Notes may be redeemed prior to maturity.
Terms of Redemption:
- -------------------
The Notes will be subject to redemption at the option of the Company, in
whole, on the Interest Payment Date occurring on May 15, 2000 and each
Interest Payment Date occurring in May or November thereafter at a redemption
price equal to 100% of the principal amount of the Notes upon at least 30 days
notice.
Additional Terms:
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The Notes may be sold at varying prices related to prevailing market conditions.
