Pricing Supplement No. 50 Dated September 5, 1997
(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: $13,000,000
CUSIP: 61687Y BR7
Trade Date: September 5, 1997
Settlement Date: October 6, 1997
Maturity Date: October 5, 2007
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): 100.0%
Net Proceeds to Issuer: 99.95%
Interest Rate (per annum): For the period up to but excluding
October 6, 1999 the interest rate on the Notes will be 3-month
LIBOR + 0.50%. Intermediation calculations rounded to five
decimal places; Coupon rounded to three decimal places.
Thereafter, the Notes will bear interest at the rate of 8.00% per
annum, unless the Notes are redeemed by the Company.
Interest Rate Basis:
( ) Commercial Paper Rate ( ) Federal Funds Rate
( ) LIBOR (Reuters) ( ) Treasury Rate Note
(X) LIBOR (Telerate)* ( ) Other:
( ) Prime Rate
* For the period up to but excluding October 6, 1999. From and
including October 6, 1999, the interest rate on the Notes will
be fixed at 8.00% unless redeemed by the Company
Interest Payment Date(s): For the period up to but excluding
October 6, 1999, interest will be paid quarterly on January 6,
April 6, July 6 and October 6 of each year, commencing January 6,
1998. Thereafter, interest will be paid annually on October 6
of each year, commencing October 6, 2000, except that the final
interest payment date on the Notes will be October 5, 2007 unless
previously redeemed by the Company.
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 ( ) Quarterly
( X ) Other: For the period up to but excluding October 6,
1999, interest will be paid quarterly on January 6,
April 6, July 6 and October 6 of each year, commencing
January 6, 1998. Thereafter, interest will be paid
annually on October 6 of each year, commencing October
6, 2000, except that the final interest payment
on the Notes will be made on October 5, 2007 unless
previously redeemed by the Company.
(30/360 with no adjustment to period end date
for calculation purposes.)
Interest Reset Periods:
( ) Daily ( ) Weekly ( ) Monthly
( X ) Quarterly, up to but excluding October 6, 1999
(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: 6th of each January, April, July and October (whether
or not a Business Day) commencing January 6, 1998 up through and
including July 6, 1999; from and including October 6, 1999 the
interest rate on the Notes will be fixed at 8.00% unless redeemed
by the Company.
Interest Calculation:
(X) Regular Floating Rate
( ) Inverse Floating Rate (Fixed Interest Rate: ___%)
( ) Other Floating Rate (See attached)
Spread (plus/minus): +.50% Spread Multiplier: N/A
Index Maturity: 3 months Index Currency: N/A
Maximum Interest Rate: N/A 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: $1,000,000 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 October 6, 1999. 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 October 6,
1999 (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.
Optional Redemption Date(s): October 6, 1999 (subject to Business
Day convention described in the Prospectus Supplement)
Initial Redemption Date:October 6, 1999 (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.
