Published on 3/18/2002 in the Prospect News Convertibles Daily.
New Issue: Merrill sells $36 million 8% callable STRIDES payable with Gap stock
New York, March 18 - Merrill Lynch & Co., Inc. sold $36 million of 8% callable STock Return Income DEbt Securities (STRIDES) due 2004 payable at maturity with The Gap, Inc. common stock, according to a filing with the Securities and Exchange Commission.
The senior debt securities were priced on March 14 via Merrill Lynch & Co.
If not called, the securities will exchange one for one at maturity into Gap stock.
| Issuer: | Merrill Lynch & Co., Inc.
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| Issue: | Callable STock Return Income DEbt Securities (STRIDES)
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| Amount: | $36 million (2.5 million units)
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| Coupon: | 8%, payable quarterly beginning June 22, 2002
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| Price: | Par of $14.40 (closing price of Gap stock on pricing date of March 14.)
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| Maturity: | March 22, 2004
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| Call: | March 24, 2003 onwards at price to give yield to call of 23%
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| Listing: | "GSY" on American Stock Exchange
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| Settlement: | March 20
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