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SHAWMUT NATIONAL INTRODUCES CD LINKED TO STOCK MARKET PERFORMANCE

 HARTFORD, Conn. AND BOSTON, March 22 /PRNewswire/ -- Shawmut National Corporation (NYSE: SNC) today announced that it is offering a new certificate of deposit (CD) with a return linked to the performance of the Standard & Poor's 500 (S&P 500), a key stock market barometer.
 If the stock market rises, investors in the Shawmut Stock Market CD will receive an interest rate based on 50 percent of the increase in the S&P 500 index during the period March 1, 1993 through Feb. 10, 1994. The product, which matures Feb. 17, 1994, is available to new or existing Partnership customers for a limited time. A minimum investment of $500 is required.
 If the S&P 500 remains unchanged or declines during the period, investors will earn no interest but 100 percent of the original investment will be returned to them. In addition, the principal is guaranteed by the Federal Deposit Insurance Corporation (FDIC) up to $100,000.
 For example, if the S&P index increases 10 percent, an investor who placed $1,000 in the Stock Market CD on March 22, 1993 would receive $1045.34 on Feb. 17, 1994. If the S&P remains flat or declines, the investor would be returned the initial $1,000 investment with no interest.
 "The Stock Market CD is an innovative product that rounds out a line of Shawmut offerings. Customers have have different needs and different propensities for risk," said Eileen S. Kraus, head of consumer banking and marketing for Shawmut National. "If a customer needs guaranteed earnings and guaranteed safety, we offer more traditional CDs. If a customer needs maximum earning potential with managed risk, we offer our portfolio of mutual funds. And if a customer falls somewhere in between, the Stock Market CD fills an investment void for people who want the security of protecting their principal yet who may be willing to assume some risk for the potential of a higher return."
 Shawmut National Corporation, which recently introduced the Shawmut family of mutual funds, is a $25.3 billion bank holding company with dual headquarters in Hartford, Conn., and Boston. Shawmut National Corporation is a leading provider of financial services to consumers and small- to medium-sized businesses in southern New England. The corporation is the largest residential mortgage originator in the region and a regional leader in the trust business. The corporation also provides financial services to corporate customers, correspondent banks, and governmental units in New England and select national markets.
 -0- 3/22/93
 /CONTACT: Brent S. Di Giorgio, 203-240-7632, or Marjorie M. Seus 617-292-3239, both of Shawmut National Corporation/
 (SNC)


CO: Shawmut National Corporation ST: Massachusetts IN: FIN SU:

CH -- NE012 -- 8284 03/22/93 14:31 EST
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Publication:PR Newswire
Date:Mar 22, 1993
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