Could it have been this story?:
A British navy flyer, LT. Bruce Mackfarlane had an engine failure on takeoff, leading to an immediate ditching off the carrier HMS Albion. Surprisingly, he survived the water impact and was coherent enough to clearly recall seeing the water close over the canopy, and begin to darken as the aircraft began to decend into the depths. His training instincts took over and he yanked the canopy jetison handle with his left hand, and immediatly fired the seat with his right. At this point, his memory becomes understandibly blurred, but he recalls tumbling free of the seat, still underwater. He had the presence of mind to release his chute and activate his life vest. (He surfaced aft of the carrier, almost directly under the 'Angel' rescue helo, which had moved into a hover over the disturbance in the water from his aircraft splash. The helo crew reported seeing his aircraft pass in two pieces along either side of the hull of the carrier. This indicates that if the pilot had delayed his attempt to escape a few seconds, he would likely have been killed when the bow of the ship sliced his bird in half.
Source: http://www.ejectionsite.com/ejecttriv.htm