Published on 2/6/2006 in the Prospect News Convertibles Daily.
New Issue: Merrill Lynch prices $75.5 million accelerated return notes linked to Nasdaq 100
By Jennifer Chiou
New York, Feb. 6 - Merrill Lynch & Co., Inc. priced $75.5 million of 0% accelerated return notes due Aug. 3, 2007 linked to the Nasdaq 100 index, according to a 424B3 filing with the Securities and Exchange Commission.
At maturity the notes pay out triple any gain on the index, capped at $11.86 per $10.00 principal amount. Investors have full exposure to any decline.
Merrill Lynch & Co. was underwriter of the deal.
Issuer: | Merrill Lynch & Co., Inc.
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Issue: | Accelerated return medium-term series C notes
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Underlying index: | Nasdaq 100
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Amount: | $75.5 million
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Maturity: | Aug. 3, 2007
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | Triple the gain on the index, capped at $11.86 per $10.00 principal amount; full exposure to any decline
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Call: | Non-callable
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Pricing date: | Jan. 31
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Settlement: | Feb. 3
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Underwriter: | Merrill Lynch & Co.
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Listing: | "ARQQ" on Nasdaq National Market
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