Published on 10/20/2003 in the Prospect News Convertibles Daily.
New Issue: Merrill prices $32 million 8% callable Strides exchangeable for Qualcomm
New York, Oct. 20 - Merrill Lynch & Co., Inc. priced $32 million 8% callable Strides (Stock Return Income Debt Securities) payable at maturity with Qualcomm Inc. common stock, according to a filing with the Securities and Exchange Commission.
| Issuer: | Merrill Lynch & Co., Inc.
|
| Issue: | Callable Strides (Stock Return Income Debt Securities) senior notes
|
| Underlying stock: | Qualcomm Inc.
|
| Amount: | $32 million
|
| Maturity: | Oct. 22, 2004
|
| Coupon: | 8%
|
| Price: | Par of $25
|
| Exchange ratio: | 0.56306306 at maturity
|
| Exchange price: | $44.40 (average price of stock on pricing date)
|
| Call: | April 23, 2004 onwards at price to give yield to call of 15%
|
| Pricing date: | Oct. 16
|
| Settlement: | Oct. 22
|
| Underwriter: | Merrill Lynch & Co.
|
| Distribution: | Off shelf
|
| Listing: | "SQJ" on American Stock Exchange
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
