NEW YORK -- A two-part issue of NationsBank debt was increased to $950 million from $800 million and was priced Tuesday by underwriters led by Merrill Lynch & Co., according to MCM Corporate Watch.

The first tranche, $400 million of senior notes due Aug. 15, 1996, was priced as 4 3/4 at 99.75 to yield 4.842%. The notes were priced at a spread of 46 basis points above Treasurys.

The second tranche, $550 million of subordinated notes due Aug. 15, 2003, was priced at par to yield 6.5%. The notes were priced at a spread of 80 basis points above Treasurys.

Both parts are rated Baal by Moody's Investors Service Inc. and A-minus by Standard & Poor's Corp.

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