Merrill Lynch plans 0% notes linked to MSCI Emerging Markets index

By Angela McDaniels

Seattle, Jan. 30 - Merrill Lynch & Co., Inc. plans to price an offering of 0% Leveraged Index Return Notes due September 2010 linked to the MSCI Emerging Markets index, according to a 424B3 filing with the Securities and Exchange Commission.

The notes are expected to price in February or March.

The payout at maturity will be par of $10 plus any gain on the index multiplied by the participation rate, which is expected to be between 100% and 110% and will be determined at pricing.

The payout will be par if the index decreases by 20% or less. Investors will lose 1.25% for each 1% decline beyond 20%.

Merrill Lynch, Pierce, Fenner & Smith Inc. will be the underwriter and will receive a discount of 2%.

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