Filed pursuant to
                                                                  Rule 424(b)(2)
                                                      Registration No. 333-20803

                                 $1,000,000,000
                                    CITICORP
                       Medium-Term Senior Notes, Series E
                    Medium-Term Subordinated Notes, Series E
                Due From 9 Months to 50 Years From Date of Issue

Pricing Supplement, dated July 29, 1997
(To Prospectus Supplement, dated May 21, 1997,
to Prospectus, dated May 21, 1997).

                              DESCRIPTION OF NOTES

         The terms of the Notes set forth in this Pricing Supplement  supplement
and modify,  to the extent  applicable,  the  description  of general  terms and
provisions of Citicorp's Medium-Term  Subordinated Notes, Series E, set forth in
the accompanying  Prospectus and Prospectus  Supplement.  Capitalized  terms not
defined  herein  shall  have  the  meanings   assigned  to  such  terms  in  the
accompanying Prospectus and Prospectus Supplement.

SUMMARY OF TERMS:

Title of Notes:               6.700% Subordinated Notes Due August 15, 2007 (the
                              "Notes").
Aggregate
Principal Amount:             $3,435,000.00.

Price to Public:              100.00%.

Issue Date:                   August 1, 1997.

Stated Maturity Date:         August 15, 2007.

Interest Rate:                6.700%.

Interest Payment Dates:       Monthly, on the 15th day of each month, commencing
                              in September 1997, and at Stated Maturity.

Regular Record Dates:         The first day of the month in which the related
                              Interest Payment Date occurs.

Sinking Fund:                 None.

Redemption:                   The Notes are subject to redemption, in whole but
                              not in part, at the option of Citicorp, on not
                              more than 60 or less than 30 days' notice, on any
                              Interest Payment Date on or after August 15, 2000,
                              at a redemption price of 100% of their principal
                              amount plus accrued and unpaid interest to the
                              redemption date.





Selling Agent:                J.W. Korth & Company.

Agent's Commission:           2.00%.

Minimum Denomination:         $1,000.

CUSIP Number:                 17303 MGX 1.