Pricing Supplement No. 60 Dated December 5, 1997
(To Prospectus Supplement dated December 1, 1997
and Prospectus dated November 24, 1997)
Pursuant to Rule 424(b)(3)
Registration Statement No. 333-40447
J.P. Morgan & Co. Incorporated
Medium-Term Notes, Series A
Subordinated Debt Securities
(Fixed Rate Notes)
Principal Amount: $25,000,000
If principal amount is stated in other than
U.S. dollars, equivalent amount in U.S. dollars: N/A
CUSIP: 61688A AS7
Trade Date: December 5, 1997
Settlement Date: December 19, 1997
Maturity Date: December 19, 2017
Price to Public (Issue Price): 100%
Net Proceeds to Issuer: 98.00%
Interest Rate (per annum): 7.00%
Interest Payment Date(s): Monthly on the 19th of each
month, commencing January 19, 1998 (subject to Business Day
convention described in the Prospectus Supplement).
Record Date(s): ( X ) The fifteenth day (whether or not
a Business Day) next preceding each Interest Payment Date.
( ) 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 19,
2001. 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 December 19, 2001 and semi-annually thereafter on
each June 19 and December 19 (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. Upon redemption
by the Company, neither party shall have further payment
obligations to the other under the terms of this
transaction.
Optional Redemption Date(s): December 19, 2001 and semi-
annually thereafter on each June 19 and December 19 (subject
to Business Day convention described in the Prospectus
Supplement)
Initial Redemption Date: December 19, 2001 (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
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: N/A
Amount of OID: N/A
Yield to Maturity: N/A
Interest Accrual Date: N/A
Initial Accrual Period OID: N/A
Amortization Schedule: N/A
Denominations: $1,000 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 98.00% of the
principal amount of the Notes. JPMSI, acting as the
Company's agent, will in turn sell $15,000,000 aggregate
principal amount of the Notes to Morgan Stanley & Co.
Incorporated and PaineWebber Incorporated at a price of
98.00% of the principal amount of the Notes.
The Company has agreed to indemnify JPMSI, Morgan
Stanley & Co. Incorporated and PaineWebber Incorporated
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.
