Published on 10/2/2003 in the Prospect News Convertibles Daily.
New Issue: Merrill prices $12 million notes exchangeable for Exxon Mobil at 0%, up 19.5%
New York, Oct. 2 - Merrill Lynch & Co., Inc. priced $12 million 0% notes exchangeable for Exxon Mobil Corp. common stock, according to a filing with the Securities and Exchange Commission.
| Issuer: | Merrill Lynch & Co., Inc.
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| Issue: | Exchangeable senior notes
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| Underlying stock: | Exxon Mobil Corp.
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| Amount: | $12 million
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| Maturity: | Oct. 3, 2008
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| Coupon: | 0%
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| Price: | Par
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| Exchange premium: | 19.5%
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| Exchange ratio: | 22.86 (for stock, if at holder's option)
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| Payout at maturity: | Greater of par or value of Exxon Mobil Corp. stock at exchange ratio in cash
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| Call: | Oct. 3, 2005 onwards at greater of par or value of Exxon Mobil Corp. stock at exchange ratio in cash
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| Pricing date: | Sept. 30
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| Underwriter: | Merrill Lynch & Co.
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| Distribution: | Off shelf
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