Published on 8/29/2002 in the Prospect News Convertibles Daily.
New Issue: Merrill Lynch sells $100.89 million 7% STRIDES payable with Citigroup
New York, Aug. 29 - Merrill Lynch & Co., Inc. sold $100.89 million of 7% callable Strides (STock Return Income DEbt Securities) payable at maturity with Citigroup Inc. common stock, according to a filing with the Securities and Exchange Commission.
Issuer: | Merrill Lynch & Co., Inc.
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Issue: | Strides (STock Return Income DEbt Securities) senior unsecured debt securities
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Amount: | $100.89 million
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Maturity: | Sept. 1, 2004
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Coupon: | 7% payable quarterly beginning Dec. 1, 2002
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Price: | Par of $34.20 (closing price of Citigroup stock on pricing date)
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Exchange ratio: | 1 at maturity, mandatory
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Call: | Sept. 2, 2003 onwards at price to give yield to call of 14%
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Underwriter: | Merrill Lynch & Co.
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Pricing date: | Aug. 27
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Settlement: | Aug. 30
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Listing: | "CGR" on American Stock Exchange
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