Published on 9/7/2005 in the Prospect News Biotech Daily and Prospect News Convertibles Daily.
New Issue: Merrill sells $9.7 million 0% notes exchangeable for pharmaceutical HOLDRs at up 9.65%
By Jennifer Chiou
New York, Sept. 7 - Merrill Lynch & Co., Inc. priced $9.7 million of 0% senior notes due Sept. 7, 2010 exchangeable into Pharmaceutical HOLDRs with a 9.65% initial exchange premium, according to a 424B3 filing with the Securities and Exchange Commission.
| Issuer: | Merrill Lynch & Co., Inc.
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| Issue: | Exchangeable senior medium-term series C notes
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| Amount: | $9.7 million
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| Maturity: | Sept. 7, 2010
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| Coupon: | 0%
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| Price: | Par
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| Yield: | 4.15%
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| Exchange premium: | 9.65%
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| Exchange ratio: | 12.728444 Pharmaceutical HOLDRs
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| Exchange price: | $78.5642
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| Payout at maturity: | Greater of par or value if exchanged in cash
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| Call: | Sept. 7, 2007 onwards, same calculation as at maturity
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| Underwriter: | Merrill Lynch & Co.
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| Pricing date: | Sept. 2
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| Settlement: | Sept. 7
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| Listing: | "PZP.A" on the American Stock Exchange
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