Published on 8/15/2003 in the Prospect News Convertibles Daily.
New Issue: Merrill prices $25 million 6% callable Strides exchangeable for Disney
New York, Aug. 15 - Merrill Lynch & Co., Inc. priced $25 million 6% callable STock Return Income DEbt Securities (Strides) payable at maturity with Walt Disney Co. common stock, according to a filing with the Securities and Exchange Commission.
| Issuer: | Merrill Lynch & Co., Inc.
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| Issue: | Callable Strides (STock Return Income DEbt Securities) senior unsecured debt
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| Reference stock: | Walt Disney Co.
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| Amount: | $25 million
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| Maturity: | Aug. 18, 2005
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| Coupon: | 6%, payable quarterly
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| Price: | Par of $25
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| Exchange ratio: | 1.11111111 at maturity
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| Exchange price: | $22.50 (closing level of Disney stock on pricing date)
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| Call: | Aug. 19, 2004 onwards at priced to give yield to call of 11%
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| Pricing date: | Aug. 13
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| Settlement: | Aug. 18
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| Underwriter: | Merrill Lynch & Co.
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| Listing: | "CSDS" on Nasdaq National Market
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