Pricing Supplement No. 10 Dated June 7, 1996
(To Prospectus Supplement dated February 20,
1996 and Prospectus dated January 31, 1996)
Pursuant to Rule 424(b)(2)Registration
Statement No. 33-64193
J.P. Morgan & Co. Incorporated
Medium-Term Notes, Series A
(Floating Rate Notes)
Principal Amount: $15,000,000
CUSIP: 61687Y AJ6
Trade Date: June 7, 1996
Settlement Date: June 21, 1996
Maturity Date: June 21, 2006
If principal amount is other than
U.S. dollars, equivalent in U.S. dollars:
N/A Exchange Agent: N/A
Price to Public (Issue Price): 100%
Net Proceeds to Issuer: 99.97%
Interest Rate (per annum): 3-month LIBOR + 0.45%, subject to
a Maximum Interest Rate of 10.00%.
Intermediation calculations rounded to five decimal places;
Coupon rounded to three decimal places.
Interest Rate Basis:
( ) Commercial Paper Rate ( ) Federal Funds Rate
( ) LIBOR (Reuters) ( ) Treasury Rate Note
(X) LIBOR (Telerate) ( ) Other:
( ) Prime Rate
Interest Payment Date(s): September 21, December 21, March 21,
June 21; commencing on September 21, 1996
Record Date(s): (X) The fifteenth day (whether or not a
Business Day) next preceding each Interest Payment Date.
( ) Other
Initial Interest Rate Per Annum: Rate on the second Business
Day preceding the Settlement Date.
Interest Payment Period: ( ) Annual ( ) Semi-Annual
( ) Monthly (X) Quarterly (30/360 with no adjustment to period
end date for calculation purposes.)
Interest Reset Periods:
( ) Daily ( ) Weekly ( ) Monthly (X)
Quarterly (30/360 with no adjustment to period end date for
calculation purposes.)
( ) Semi-annually; the third Wednesday of :
( ) Annually; the third Wednesday of:
Interest Determination Dates, if other than stated in the
Prospectus Supplement: Second Business Day preceding the
Interest Reset Date.
Interest Reset Date if other than stated in the Prospectus
Supplement: 21st of each September, December, March, and June
(whether or not a Business Day) beginning June 21, 1996.
Interest Calculation:
(X) Regular Floating Rate
( ) Inverse Floating Rate (Fixed Interest Rate: ___%)
( ) Other Floating Rate (See attached)
Spread (plus/minus): +.45% Spread Multiplier: N/A
Index Maturity: 3 months Index Currency: N/A
Maximum Interest Rate: 10.00% Minimum Interest Rate: 0.00%
Calculation Date if other than stated in the Prospectus
Supplement: N/A
Right of Payment:
( ) Subordinated (X) Unsubordinated
Day Count Basis: ( X) 30/360 with no adjustment to
period end date for calculation purposes
(Commercial Paper Rate Notes, Federal
Funds Rate Notes, Prime Rate Notes and
LIBOR Notes)
( ) Actual (Treasury Rate Notes)
Form: (X) Book-Entry Note (DTC)
( ) Certificated Note
Denomination: $250,000 with $5,000 integral multiples thereafter.
Redemption:
( ) The Notes may not be redeemed prior to stated maturity.
(X) The Notes may not be redeemed prior to June 21, 1998. The
notes may be redeemed at the option of the Company upon at
least 15 calendar days notice, in whole but not in part, on
June 21, 1998, (subject to Business Day convention described in
the Prospectus Supplement) at 100% of the principal amount
thereof together with accrued interest to the date fixed for
redemption; thereafter, the notes may not be redeemed.
Optional Redemption Date(s): June 21, 1998 only (subject to
Business Day convention described in the Prospectus Supplement)
Initial Redemption Date: June 21, 1998 only (subject to
Business Day convention described in the Prospectus Supplement)
Initial Redemption Percentage: See above
Annual Redemption Percentage Reduction: N/A
Modified Payment Upon Acceleration: N/A
Repayment Date Prices: N/A
Sinking Fund: None
Extendible Note: ( ) Yes (X) No
Amortization Schedule: N/A
Original Issue Discount: N/A
Amount of OID:
Yield to Maturity:
Interest Accrual Date:
Initial Accrual Period OID:
Indexed Note: ( ) Yes (X) No
Calculation Agent(s): (X) First Trust of New York, National Association
( ) Morgan Guaranty Trust Company of New York
Plan of Distribution:
J.P. Morgan Securities Inc. has acted as Agent on behalf
of the Company.
The Company has agreed to indemnify the Agent against certain
liabilities, including liabilities under the Securities Act of
1933, as amended.
Additional Terms:
CAPITALIZED TERMS USED IN THIS PRICING SUPPLEMENT WHICH ARE
DEFINED IN THE PROSPECTUS SUPPLEMENT OR THE PROSPECTUS SHALL
HAVE THE MEANINGS ASSIGNED TO THEM IN THE PROSPECTUS SUPPLEMENT
OR THE PROSPECTUS.
