Published on 6/3/2005 in the Prospect News Convertibles Daily.
New Issue: Merrill Lynch prices $17 million Mitts linked to S&P 500
New York, June 3 - Merrill Lynch & Co. priced $17 million of Market Index Target-Term Securities (Mitts) linked to the S&P 500 index, according to a 424B3 filing with the Securities and Exchange Commission.
At maturity, holders will receive the gain on the S&P 500 index less 175 basis points a year, with a minimum return of par.
| Issuer: | Merrill Lynch & Co.
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| Issue: | Market Index Target-Term Securities (Mitts) senior medium-term notes
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| Underlying index: | S&P 500
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| Amount: | $17 million
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| Maturity: | June 7, 2010
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Percentage gain of index less 175 basis points a year, minimum of par
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| Pricing date: | May 31
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| Settlement: | June 6
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| Underwriter: | Merrill Lynch & Co.
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