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Rule 424(b)(2)
File No. 33-64054
PRICING SUPPLEMENT NO. 38 DATED August 11, 1997
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(To Prospectus dated July 2,1993 as supplemented
by Prospectus Supplement dated July 15, 1993)
MARSHALL & ILSLEY CORPORATION
Medium-Term Notes, Series C
Due from 9 months to 30 years from date of Issue
Fixed Rate Notes
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Trade Date: August 8, 1997 Issue Price: 99.650%
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Original Issued Date: August 13, 1997 Principal Amount: $250,000.00
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Interest Rate
Maturity Date: August 14, 2000 Per Annum: 6.440%
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Redemption:
Check box opposite applicable paragraph.
[X] The Notes cannot be redeemed prior to maturity
[ ] The Notes may be redeemed prior to maturity
Terms of Redemption:
Additional Terms:
CUSIP - 57183HEG2
