Published on 3/20/2002 in the Prospect News Convertibles Daily.
New Issue: Merrill Lynch prices $40.8 million 7% callable STRIDES payable with Texas Instruments
New York, March 20 - Merrill Lynch & Co., Inc. priced $40.8 million of 7% Callable STock Return Income DEbt Securities (Callable STRIDES) due 2004 and payable at maturity with Texas Instruments Inc. common stock, according to a filing with the Securities and Exchange Commission.
The securities were priced Monday via Merrill Lynch & Co.
If not called first, the STRIDES are exchangeable at maturity into Texas Instruments common stock at the rate of one share per STRIDE.
| Issuer: | Merrill Lynch & Co., Inc.
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| Issue: | Callable STock Return Income DEbt Securities (Callable STRIDES)
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| Amount: | $40.8 million (1.2 million units)
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| Maturity: | March 22, 2004
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| Coupon | 7%, payable quarterly beginning June 22, 2002
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| Price: | Par of $34.00 (closing price of Texas Instruments Inc. common stock on pricing date of March 18)
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| Call: | March 24, 2003 onwards at price to give a yield to call of 22.5%
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| Listing: | "TST" on American Stock Exchange
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| Settlement: | March 22
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