Published on 5/19/2004 in the Prospect News Convertibles Daily.
New Issue: Merrill prices $30 million 9% callable Strides exchangeable for JetBlue
New York, May 19 - Merrill Lynch & Co. Inc. priced $30 million two-year 9% callable Strides (Stock Return Income Debt Securities) payable at maturity with JetBlue Airways Corp. common stock, according to a filing with the Securities and Exchange Commission.
| Issuer: | Merrill Lynch & Co. Inc.
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| Issue: | Callable Strides (Stock Return Income Debt Securities) senior notes
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| Underlying stock: | JetBlue Airways Corp.
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| Amount: | $30 million
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| Maturity: | May 22, 2006
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| Coupon: | 9%, payable quarterly
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| Price: | Par of $25
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| Exchange ratio: | 0.96487843 at maturity
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| Exchange price: | $25.91 (closing price of stock on pricing date)
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| Call: | May 23, 2005 onwards at price to give yield to call of 17%
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| Pricing date: | May 17
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| Settlement date: | May 21
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| Underwriter: | Merrill Lynch & Co.
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| Distribution: | Off shelf
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| Listing: | "CSJB" on Nasdaq National Market
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