[LETTERHEAD OF FIRST CHICAGO NBD CORPORATION]


                                       May 16, 1996


VIA EDGAR
- ---------

Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street N.W.
Washington, DC 20549

Re:  First Chicago NBD Corporation
     Registration Statement on Form S-3
     File No. 33-65431

Ladies and Gentlemen:

     On behalf of First Chicago NBD Corporation and pursuant to Rule 424(b)(3), 
we hereby file via EDGAR Pricing Supplement No. 1 dated May 16, 1996 to a
Prospectus Supplement dated March 28, 1996 and a Prospectus dated February 1, 
1996.

                                       Very truly yours,



                                       Harry H. Hallowell
                                       Assistant Treasurer

       
 
Pricing Supplement No. 1        Dated May 16, 1996
Filed Pursuant to: Rule 424(b)(3)       File No. 33-65431
(To Prospectus dated February 1, 1996 and 
Prospectus Supplement dated March 28, 1996) 


                         FIRST CHICAGO NBD CORPORATION
                          MEDIUM-TERM NOTES, SERIES G


                                                                        
Date of Issue: May 20, 1996     [_]Fixed Rate    [_]Commercial Paper Rate Note  [_]LIBOR Reuters
                                [X]Senior        [_]Federal Funds Rate Note     [X]LIBOR Telerate
Maturity Date: May 15, 1998     [_]Subordinated  [_]CD Rate Note                [_]Prime Rate Note
                                                 [_]CMT Rate Note               [_]Treasury Rate Note
                                                 [_]LIBOR Note
 
 

Principal Amount: $10,000,000.00

Issue Price (As a Percentage of Principal Amount): 100%

Interest Rate/Initial Interest Rate: Not Available

Interest Payment Dates: 15th day of February, May, August and November of
                        each year

Interest Reset Dates: 15th day of February, May, August and November of
                      each year

Index Maturity or Designated CMT Maturity Index: 90 days

Spread: +3 basis points

Spread Multiplier: None

Minimum Interest Rate: None

Maximum Interest Rate: None

Interest Payment Period: May 20, 1996 to August 15, 1996 and quarterly 
                         thereafter, up to but excluding the interest payment 
                         date.

Interest Rate Reset Period: May 20, 1996 to August 15, 1996 and quarterly
                            thereafter, up to but excluding the interest payment
                            date.


Redemption Date(s) or Period: None

Optional Repayment Date(s): None

Calculation Agent (If Applicable): The First National Bank of Chicago


Additional Terms:




This Pricing Supplement may be used by First Chicago Capital Markets, Inc. 
("FCCM"), a wholly owned subsidiary of the issuer, in connection with the offer 
and sales related to secondary market transactions in the Notes. FCCM may act as
principal or agent in such transactions. Such sales will be made at prices 
related to the prevailing market prices at the time of sale.