Merrill Lynch to price principal-protected notes linked to euro/ruble exchange rate

By Susanna Moon

Chicago, July 18 - Merrill Lynch & Co., Inc. plans to price principal-protected notes due March 2010 linked to the euro/ruble exchange rate, according to an FWP filing with the Securities and Exchange Commission.

The exchange rate rises as the value of the ruble falls against the euro.

Payout at maturity will be par of $10 plus 90% to 125% of any gain in the exchange rate. The exact participation rate will be set at pricing. Investors will receive at least par.

The notes will price and settle in August.

Merrill Lynch & Co. and First Republic Securities Co., LLC will be the underwriters.

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