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CHRYSLER CONFIRMS $862.5 MILLION PRIVATE ISSUE OF DEPOSITARY SHARES

 CHRYSLER CONFIRMS $862.5 MILLION PRIVATE ISSUE OF DEPOSITARY SHARES
 HIGHLAND PARK, Mich., Feb. 20 /PRNewswire/ -- Chrysler Corporation (NYSE: C) confirmed today that it had completed a $862,500,000 private issue to institutional investors of 17,250,000 of its $4.625 Depositary Shares. Each Depositary Share represents 1/10 of a share of Chrysler's Series A Convertible Preferred Stock and has a liquidation preference of $50. The Depositary Shares are convertible, beginning May 20, 1992, into Chrysler's Common Stock at a conversion price of $18 per share of Chrysler's Common Stock. Depositary shares are not redeemable prior to Jan. 22, 1997.
 Chrysler plans to use substantially all of the proceeds of the issue in its planned expenditure programs for new products and modernization of production facilities.
 There are no further details available.
 -0- 2/20/92
 /CONTACT: Tom Houston of Chrysler, 313-252-8790/
 (C) CO: Chrysler Corporation ST: Michigan IN: AUT SU:


JG -- DE014 -- 1018 02/20/92 14:39 EST
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Publication:PR Newswire
Date:Feb 20, 1992
Words:162
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