Published on 9/27/2002 in the Prospect News Convertibles Daily.
New Issue: Merrill Lynch sells $14.1 million 8% STRIDES payable with Hewlett-Packard
New York, Sept. 27 - Merrill Lynch & Co., Inc. priced $14.124 million 8% callable STRIDES (STock Return Income DEbt Securities) payable at maturity with Hewlett-Packard Co. 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 unsecured debt
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| Amount: | $14.124 million (1.1 million units)
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| Maturity: | Oct. 1, 2004
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| Coupon: | 8%, payable quarterly beginning Jan. 1, 2003
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| Price: | Par of $12.84 (Closing price of H-P stock on Sept. 25)
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| Call: | Oct. 2, 2003 onwards at price to give yield to call of 22%
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| Early redemption: | If Hewlett-Packard stock closes below $1.00
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| Exchange ratio: | 1
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| Payout at maturity: | One share of Hewlett-Packard Co. stock
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| Pricing date: | Sept. 25
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| Underwriter: | Merrill Lynch & Co.
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| Settlement: | Oct. 1
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| Listing: | "HSQ" on American Stock Exchange
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