NEW YORK - First Chicago Corp. issued $1 billion of floating rate certificates backed by credit card receivables, according to co-lead manager Salomon Brothers.

The $500 million series 1995-M certificates, which float at the one- month London interbank offered rate plus 24 basis points, have a 6.365% initial coupon priced at 100, according to Salomon Brothers. Their average life is 7.03 years.

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