Published on 11/16/2001 in the Prospect News Convertibles Daily.
New Issue: Merrill Lynch prices $103.4 million 8% STRIDES linked to EMC
New York, Nov. 16 - Merrill Lynch & Co. issued $103.4 million 8% callable stock return income debt securities (Callable STRIDES) linked to EMC Corp. common stock, according to a press release from the American Stock Exchange, which began trading the securities Friday.
At maturity in two years, holders will receive one share of EMC stock for each STRIDES.
EMC will receive no proceeds from the offering.
Issuer: | Merrill Lynch & Co.
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Amount: | $103.4 million in 6.4 million shares
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Maturity: | Nov. 21, 2003
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Coupon: | 8%, payable quarterly
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Price: | par of $16.15
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Call: | Beginning Nov. 22, 2002 at specified prices
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Ticker: | EMH
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