Published on 4/5/2006 in the Prospect News Convertibles Daily.
New Issue: Merrill prices $25 million 7% callable Strides exchangeable for Intel
By Angela McDaniels
Seattle, April 5 - Merrill Lynch & Co. Inc. priced $25,025,000 one-year 7% callable Strides (Stock Return Income Debt Securities) payable at maturity with Intel Corp. common stock, according to a 424B3 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 notes, series C
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| Underlying stock: | Intel Corp.
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| Amount: | $25,025,000
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| Maturity: | April 5, 2007
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| Coupon: | 7%, payable quarterly
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| Price: | Par of $25
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| Exchange ratio: | 1.26238399
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| Exchange price: | $19.8038 (closing price of stock on pricing date)
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| Call: | Oct. 6, 2006 onwards at price to give yield to call of 15%
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| Pricing date: | March 30
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| Settlement date: | April 5
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| Underwriter: | Merrill Lynch & Co.
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| Distribution: | Off shelf
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| Listing: | "MIS" on American Stock Exchange
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