Published on 2/13/2002 in the Prospect News Convertibles Daily.
New Issue: Merrill Lynch sells $33.23 million 6% callable STRIDES linked to Bed Bath & Beyond
New York, Feb. 13 - Merrill Lynch & Co., Inc. sold $33.23 million callable stock return income debt securities (STRIDES) exchangeable for common stock of Bed Bath & Beyond Inc., according to a filing with the Securities and Exchange Commission.
If not called first, the securities exchange at maturity one-for-one into Bed Bath & Beyond stock. The call price is set to give a yield-to-call of 16%.
The STRIDES, senior debt securities, priced Feb. 5 via underwriter Merrill Lynch & Co.
| Issuer: | Merrill Lynch & Co., Inc.
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| Amount: | $33.23 million (1 million units)
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| Maturity: | Feb. 11, 2004
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| Coupon: | 6%, payable quarterly beginning May 11, 2002
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| Price: | Par of $33.23 (closing price of Bed Bath & Beyond stock on Feb. 5)
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| Payout at maturity: | One share of Bed Bath & Beyond Inc. common stock
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| Call: | Feb. 12, 2003 onwards at price to provide yield to call of 16%
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| Settlement: | Feb. 11
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| Listing: | "BDQ" on American Stock Exchange
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