Pricing Supplement No. 58 Dated November 14, 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
Subordinated Debt Securities
(Zero Coupon Notes)
Principal Amount: $10,000,000
If principal amount is stated in other than
U.S. dollars, equivalent amount in U.S. dollars: N/A
CUSIP: 61688A AP3
Trade Date: November 14, 1997
Settlement Date: December 1, 1997
Maturity Date: December 1, 2017
Price to Public (Issue Price): 21.855%
Net Proceeds to Issuer: $2,151,500
Interest Rate (per annum): 0%
Interest Payment Date(s): Accrued Original Issue Discount
will be paid upon maturity or upon the redemption of the
Notes, such redemption being at the option of the Issuer.
Record Date(s): ( X ) May 15 and November 15 of each year
( ) Other:
Day Count Basis: ( X ) 30/360
( ) Actual
Form: ( X) Book-Entry Note (DTC)
( ) Certificated Note
Redemption:
( ) The Notes may not be redeemed prior to stated maturity.
( X) The Notes may not be redeemed prior to December 1, 2000.
Thereafter, they may be redeemed at the option of the Issuer
upon at least 10 calendar days notice, in whole but not in part,
on each June 1 and December 1 beginning December 1, 2000 at a
redemption price equal to the principal amount of the Notes
multiplied by the Call Percentage relating to such Optional
Redemption dates set forth below:
Optional Call
Redemption Percentage
Date
December 1--2000 27.455%
June 1--2001 28.519%
December 1--2001 29.624%
June 1--2002 30.772%
December 1--2002 31.965%
June 1--2003 33.203%
December 1--2003 34.490%
June 1--2004 35.826%
December 1--2004 37.215%
June 1--2005 38.657%
December 1--2005 40.155%
June 1--2006 41.711%
December 1--2006 43.327%
June 1--2007 45.006%
December 1--2007 46.750%
June 1--2008 48.561%
December 1--2008 50.443%
June 1--2009 52.398%
December 1--2009 54.428%
June 1--2010 56.537%
December 1--2010 58.728%
June 1--2011 61.004%
December 1--2011 63.368%
June 1--2012 65.823%
December 1--2012 68.374%
June 1--2013 71.023%
December 1--2013 73.775%
June 1--2014 76.634%
December 1--2014 79.604%
June 1--2015 82.688%
December 1--2015 85.893%
June 1--2016 89.221%
December 1--2016 92.678%
June 1--2017 96.270%
December 1--2017 100.00%
Any repayment of the principal hereof may be made with the prior
written approval of the appropriate federal and state banking
regulatory agencies.
Sinking Fund: None
Right of Payment:
(X ) Subordinated ( ) Unsubordinated
The Notes are subordinate in right of
payment to Senior Indebtedness and, in
certain circumstances relating to the
bankruptcy or insolvency of the Company,
to Derivative Obligations of the Company.
At September 30, 1997 the amount of
indebtedness constituting Senior
Indebtedness was approximately $9.4
billion and the amount of Derivative
Obligations was immaterial.
Original Issue Discount: $7,814,500
Yield to Maturity: 7.75% semi-annual
Interest Accrual Date: December 1, 1997
Initial Accrual Period OID: $14,114.69
Amortization Schedule: N/A
Denominations: $1,000,000 with $1,000 integral multiples thereafter.
Plan of Distribution:
The Company, will sell the Notes to J.P. Morgan Securities Inc.
("JPMSI") at a price of 21.515% of the principal amount of the Notes.
The Company has agreed to indemnify JPMSI 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.
