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FIRST CHICAGO ANNOUNCES CONVERTIBLE PREFERRED STOCK PRICING

 CHICAGO, March 2 /PRNewswire/ -- First Chicago Corp. (NYSE: FNB) announced the public offering of $200 million of Depositary Shares, each representing a one-hundredth interest in a share of Cumulative Convertible Preferred Stock, Series B (Stated Value $5,000 per share), priced through a management group of The First Boston Corporation, Lazard Freres & Co., and Salomon Brothers Inc.
 The four million Depositary Shares were priced at $50 per Depositary Share with an annual dividend rate of 5.75 percent. The Depositary Shares will be convertible into First Chicago common stock, $5 par value, at a conversion price of $53.625 per common share. The Depositary Shares will be redeemable on or after April 1, 1997, at a premium declining ratably to par on or after April 1, 2003.
 Delivery is scheduled for March 9, 1993. Dividends on the preferred stock will be cumulative from March 9, 1993, and will be payable quarterly on Jan. 1, April 1, July 1, and Oct. 1 of each year, commencing July 1, 1993.
 The net proceeds from the sale of these securities will be used for general corporate purposes, including the funding of investments in, or extensions of credit to, First Chicago's subsidiaries.
 -0- 3/2/93
 /CONTACT: Lisabeth Weiner, 312-732-4455, for First Chicago/
 (FNB)


CO: First Chicago Corp. ST: Illinois IN: FIN SU: OFR

LR -- NY052 -- 1886 03/02/93 10:53 EST
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Publication:PR Newswire
Date:Mar 2, 1993
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