Pricing Supplement No. 53 Dated September 26, 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
(Fixed Rate Notes)
Principal Amount: $20,000,000
If principal amount is stated in other than
U.S. dollars, equivalent amount in U.S. dollars: N/A
CUSIP: 61688A AL2
Trade Date: September 26, 1997
Settlement Date: October 14, 1997
Maturity Date: October 14, 2012
Price to Public (Issue Price): 100%
Net Proceeds to Issuer: $19,650,000
Interest Rate (per annum): 7.00%
Interest Payment Date(s): The 14th day of each month, commencing
November 14, 1997.
Record Date(s): ( ) March 1 and September 1 of each year
( X) Other: The first day of each month.
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 October 14, 1999.
Thereafter, they may be redeemed at the option of the Issuer upon
at least 15 calendar days notice, in whole but not in part, on
each October 14 and April 14 at 100% of the principal amount
thereof together with accrued interest to the date fixed for
redemption.
Optional Redemption Date(s): See above.
Initial Redemption Date: October 14, 1999
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 June 30,
1997 the amount of indebtedness constituting Senior Indebtedness
was approximately $8.1 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:
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.
