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CHEMICAL BANKING TO REDEEM PREFERRED SHARES

 CHEMICAL BANKING TO REDEEM PREFERRED SHARES
 NEW YORK, Aug. 21 /PRNewswire/ -- Chemical Banking Corporation


(NYSE: CHL) today announced that it will redeem all outstanding shares of its adjustable rate cumulative preferred stock, series B.
 The redemption price will be $50 per share and the date fixed for redemption is Sept. 30, 1992. Approximately 2 million shares of the stock are currently outstanding.
 Chemical said that the redemption will be funded by a portion of the net proceeds it previously received from a $350 million preferred stock offering completed in May 1992.
 -0- 8/21/92
 /CONTACT: press, John Meyers, 212-270-7454, or investors, John Borden, 212-270-7318, both of Chemical Banking/
 (CHL) CO: Chemical Banking Corporation ST: New York IN: FIN SU:


KD-OS -- NY021 -- 2089 08/21/92 11:09 EDT
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Aug 21, 1992
Words:129
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