By Angela McDaniels
Tacoma, Wash., Sept. 5 - Merrill Lynch & Co., Inc. priced $37.25 million of 9.25% callable Stock Return Income Debt Securities due Sept. 1, 2010 payable at maturity with shares of Oracle Corp. common stock, according to a 424B3 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The payout at maturity will be a number of Oracle shares equal to par of $25.00 divided by the initial volume-weighted average share price.
The Strides will be callable with a yield to call of 14.25% beginning Sept. 10, 2009.
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 are the underwriters.
| Issuer: | Merrill Lynch & Co., Inc.
|
| Issue: | Callable Stock Return Income Debt Securities
|
| Underlying stock: | Oracle Corp. (Nasdaq: ORCL)
|
| Amount: | $37.25 million
|
| Maturity: | Sept. 1, 2010
|
| Coupon: | 9.25%, payable quarterly
|
| Price: | Par of $25.00
|
| Payout at maturity: | 1.10738 Oracle shares
|
| Call option: | Beginning Sept. 10, 2009 with yield to call of 14.25%
|
| Initial share price: | $22.5758
|
| Pricing date: | Aug. 28
|
| Settlement date: | Sept. 9
|
| Underwriters: | Merrill Lynch & Co. and First Republic Securities Co., LLC
|
| Fees: | 2%
|
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