Published on 4/2/2003 in the Prospect News Convertibles Daily.
New Issue: Merrill Lynch sells $32 million 8% callable Strides payable with Comcast stock
New York, April 2 - Merrill Lynch & Co., Inc. issued $32 million 8% callable Strides (STock Return Income DEbt Securities) payable at maturity with Comcast Corp. class A common 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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| Maturity: | April 5, 2005
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| Coupon: | 8%, payable quarterly
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| Price: | Par of $25
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| Call: | April 6, 2004 onwards at price to give yield to call of 17%
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| Payout at maturity: | 0.85470085 shares of Comcast Corp. Class A common stock per Strides ($25 par is closing price of Comcast stock on April 1 of $29.25 multiplied by 0.85470085)
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| Pricing date: | April 1
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| Settlement: | April 3
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| Underwriter: | Merrill Lynch & Co.
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| Listing: | "CSSA" on Nasdaq National Market
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