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Pricing Supplement No. 1 Dated February 26, 1996
(To Prospectus Supplement dated February 20, 1996
and Prospectus dated January 31, 1996)
Pursuant to Rule 424 (b)(3)
Registration Statement No. 33-64193
J. P. Morgan & Co. Incorporated
Medium Term Notes, Series A
(Floating Rate Notes)
Principal Amount: $30,000,000
CUSIP: 61687Y AA5
Trade Date: February 26, 1996
Settlement Date: March 15, 1996
Maturity Date: March 15, 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: 99.90%
Interest Rate (per annum): 3-month LIBOR + 0.40%
Intermediation calculations rounded to five decimal places;
coupon rounded to three decimals.
Interest Rate Basis:
( ) Commercial Paper Rate ( ) Federal Funds Rate
( ) LIBOR (Reuters) ( ) Treasury Rate Note
(X) LIBOR (Telerate) ( ) Other:
( ) Prime Rate
Interest Payment Date(s): June 15, September 15, December 15 and
March 15 of each year (subject to Business Day convention
described in the Prospectus Supplement).
Record Date(s): (X) The fifteenth day (whether or not a Business
Day) preceding each Interest Payment Date.
( ) Other
Initial Interest Rate: Rate on the second Business Day preceding
the Settlement Date.
Interest Payment Period: ( ) Annual ( ) Semi-Annual
( ) Monthly (X) Quarterly
Interest Reset Periods:
( ) Daily ( ) Weekly ( ) Monthly
(X) Quarterly
( ) 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: 15th of each June, September, December and March
beginning March 15, 1996 (subject to Business Day convention
described in the Prospectus Supplement).
Interest Calculation:
(X) Regular Floating Rate
( ) Inverse Floating Rate (Fixed Interest Rate: ___%)
( ) Other Floating Rate (See attached)
Spread (plus/minus): +.40% 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:
Right of Payment:
( ) Subordinated (X) Unsubordinated
Day Count Basis: (X) 30/360 (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
Denominations: $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 March 15, 1997.
Thereafter, they may be redeemed at the option of the Issuer
upon at least 10 calendar days notice, in whole but not in
part, quarterly on each June 15, September 15, December 15
and March 15, beginning on March 15, 1997, at 100% of the
principal amount thereof together with accrued interest to
the date fixed for redemption.
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 SUPPLEMENTOR THE PROSPECTUS SHALL HAVE
THE MEANINGS ASSIGNED TO THEM IN THE PROSPECTUS SUPPLEMENT OR THE
PROSPECTUS.
