New Issue: Merrill prices $37.5 million 7% callable Strides exchangeable for EMC

New York, Dec. 18 - Merrill Lynch & Co. Inc. priced $37.5 million two-year 7% callable Strides (Stock Return Income Debt Securities) payable at maturity with EMC Corp. 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:	EMC Corp.
Amount:	$37.5 million
Maturity:	Dec. 22, 2005
Coupon:	7%
Price:	Par of $25
Exchange ratio:	1.97784810 at maturity
Exchange price:	$12.64 (average price of stock on pricing date)
Call:	Dec. 23, 2004 onwards at price to give yield to call of 16%
Pricing date:	Dec. 16
Settlement date:	Dec. 22
Underwriter:	Merrill Lynch & Co.
Distribution:	Off shelf
Listing:	"CEMH" on Nasdaq National Market

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