Pricing Supplement No. 23 Dated July 31, 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
(Fixed Rate Notes)
Principal Amount: $31,000,000
If principal amount is stated in other than
U.S. dollars, equivalent amount in U.S. dollars: N/A
CUSIP: 61687Y AV9
Trade Date: July 31, 1996
Settlement Date: August 5, 1996
Maturity Date: August 5, 1998
Price to Public (Issue Price): Variable Price Re-offering
Net Proceeds to Issuer: 100.00%
Interest Rate (per annum): 6.362%
Interest Payment Date(s): February 5 and August 5; commencing
February 5, 1997
Record Date(s): ( ) March 1 and September 1 of each year
(X ) Other: February 1 and August
1 of each year
Day Count Basis: (X) 30/360
( ) Actual
Form: (X) Book-Entry Note (DTC)
( ) Certificated Note
Redemption:
(X) The Notes may not be redeemed prior to stated maturity.
( ) The Notes may be redeemed prior to maturity.
Optional Redemption Date(s):
Initial Redemption Date:
Initial Redemption Percentage:
Annual Redemption Percentage Reduction:
Modified Payment Upon Acceleration:
Sinking Fund: None
Right of Payment:
( ) Subordinated (X) Unsubordinated
Original Issue Discount: N/A
Amount of OID:
Yield to Maturity:
Interest Accrual Date:
Initial Accrual Period OID:
Amortization Schedule: N/A
Denominations: $250,000 with $5,000 integral multiples thereafter
Plan of Distribution:
The Company, through J.P. Morgan Securities Inc. ("JPMSI") acting as the
Company's agent, will sell the Notes in their entirety to Goldman, Sachs &
Co. at a price of 100.00% of the principal amount of the Notes.
The Company has agreed to indemnify JPMSI and Goldman, Sachs & Co. 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 SUPPLEMENTOR THE PROSPECTUS SHALL HAVE THE MEANINGS
ASSIGNED TO THEM IN THE PROSPECTUS SUPPLEMENT OR THE PROSPECTUS.
