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Published on 5/26/2004 in the Prospect News Convertibles Daily.

New Issue: Merrill Lynch sells $110,000 10% knock-in notes linked to AngloGold

New York, May 26 - Merrill Lynch & Co. Inc. priced $110,000 one-year 10% knock-in notes linked to the American Depositary Receipts of AngloGold Ltd., according to a filing with the Securities and Exchange Commission.

Issuer:Merrill Lynch & Co. Inc.
Issue:Knock-in senior medium-term notes
Underlying stock:AngloGold Ltd. American Depositary Receipts
Amount:$110,000
Maturity:May 28, 2005
Coupon:10%
Price:Par
Payout at maturity:If AngloGold ADRs close below knock-in price at any time 29.62962963 AngloGold ADRs, otherwise par in cash
Knock-in price:$23.63 (70% of initial price)
Exchange ratio:29.62962963 at maturity
Exchange price:$33.75 (closing price of stock on pricing date)
Call:Non-callable
Pricing date:May 24
Settlement date:May 28
Underwriter:Merrill Lynch & Co.
Distribution:Off shelf

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