By Laura Lutz
Des Moines, Feb. 27 - Merrill Lynch & Co., Inc. priced $33.2 million of 9% callable Stock Return Income Debt Securities (Strides) due March 1, 2010 payable at maturity with Google Inc. common stock, according to a 424B3 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
For each $25.00 of Strides, the payout at maturity will be 0.04949385 Google shares, which is equal to par divided by the initial volume-weighted average share price.
The Strides will be callable beginning on March 2, 2009 with a yield to call of 13.85%.
The company said the Strides were approved for listing on the American Stock Exchange under the symbol "GKO."
Merrill Lynch, Pierce, Fenner & Smith Inc. and its affiliate First Republic Securities Co., LLC are the agents.
| Issuer: | Merrill Lynch & Co., Inc.
|
| Issue: | Callable Stock Return Income Debt Securities (Strides)
|
| Underlying stock: | Google Inc. (Symbol: GOOG)
|
| Amount: | $33.2 million
|
| Maturity: | March 1, 2010
|
| Coupon: | 9%, payable quarterly
|
| Price: | Par of $25.00
|
| Payout at maturity: | 0.04949385 Google shares per $25.00 of Strides
|
| Call: | Beginning on March 2, 2009 with yield to call of 13.85%
|
| Initial VWAP: | $505.1133
|
| Pricing date: | Feb. 20
|
| Settlement date: | Feb. 27
|
| Agent: | Merrill Lynch, Pierce, Fenner & Smith Inc. and affiliate First Republic Securities Co., LLC
|
| Fees: | 2%
|
| Listing: | GKO
|
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