Merrill Lynch to price 9.25% callable Strides linked to Oracle

By Angela McDaniels

Tacoma, Wash., July 30 - Merrill Lynch & Co., Inc. plans to price 9.25% two-year callable Stock Return Income Debt Securities payable at maturity with shares of Oracle Corp. common stock, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

The payout at maturity will be a number of Oracle shares equal to par of $25 divided by the initial volume-weighted average share price.

The Strides will be callable with a yield to call of 10.5% to 14.5% beginning one year after issue, with the exact yield to be set at pricing.

The notes will price in August or September, and the maturity date will fall in August or September of 2010.

The company said it applied to list the Strides on the American Stock Exchange under the symbol "OLE."

Merrill Lynch & Co. and First Republic Securities Co., LLC will be the underwriters.

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