New Issue: Merrill Lynch prices $60.55 million Accelerated Return Bear Market Notes linked to S&P 500

By Jennifer Chiou

New York, July 3 - Merrill Lynch & Co., Inc. priced a $60.55 million offer 0% medium-term notes due April 5, 2007 structured as Accelerated Return Bear Market Notes linked to the S&P 500 index, according to a 424B3 filing with the Securities and Exchange Commission.

At maturity, the notes will pay triple the absolute value of any decrease on the index, capped at $13.85 per $10.00 unit. If the index gains, investors will lose proportionally, with a floor of $8.00.

Issuer:	Merrill Lynch & Co. Inc.
Issue:	Accelerated Return Bear Market Notes
Underlying index:	S&P 500
Amount:	$60.55 million
Maturity:	April 5, 2007
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	Triple the absolute value of any decrease on the index, capped at $13.85 per $10.00 principal amount; losses proportional to any gains, floor of $8.00
Call:	Non-callable
Pricing date:	June 29
Settlement date:	July 5
Underwriter:	Merrill Lynch & Co. Inc.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.