Published on 12/31/2003 in the Prospect News Convertibles Daily.
New Issue: Merrill Lynch sells $117 million 7% Strides payable with GE stock
New York, Dec. 31 - Merrill Lynch & Co., Inc. sold $117 million of 7% callable Strides payable at maturity with General Electric Co. stock, according to a filing with the Securities and Exchange Commission.
General Electric stock closed at $25.73 on the pricing date of Dec. 23. The closing price multiplied by 0.97162845 is equal to the par price of $25.
| 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: | $117 million
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| Maturity: | Jan. 3, 2005
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| Coupon: | 7%, payable quarterly beginning April 3, 2003
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| Price: | Par of $25
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| Call: | Jan. 5, 2004 onwards at price to give yield to call of 14.5%
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| Payout at maturity: | 0.97162845 shares of General Electric Co. stock
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| Underwriter: | Merrill Lynch & Co.
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| Pricing date: | Dec. 23
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| Settlement: | Dec. 30
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| Listing: | "CSGE" on Nasdaq National Market
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