Merrill Lynch to issue Accelerated Return Notes linked to Euro Stoxx 50

By Jennifer Chiou

New York, May 17 - Merrill Lynch & Co., Inc. plans to price 0% Accelerated Return Notes due August 2008 linked to the Dow Jones Euro Stoxx 50 index, according to a 424B3 filing with the Securities and Exchange Commission.

Payout at maturity will be par plus triple any gain in the index. The payout will be capped at between $11.80 and $12.20 per $10.00 note. The exact cap will be set at pricing. Investors will have full exposure to any index decline.

The notes are expected to settle in June.

Merrill Lynch said it applied to list the notes on the American Stock Exchange under "ETX."

Merrill Lynch & Co. will be the underwriter.

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