Merrill Lynch to sell leveraged notes linked to ML Commodity index eXtra Biofuels - Excess Return

By Laura Lutz

Des Moines, Nov. 2 - Merrill Lynch & Co., Inc. plans to sell Leveraged Index Return Notes due March 2010 linked to the Merrill Lynch Commodity index eXtra Biofuels - Excess Return, according to an FWP filing with the Securities and Exchange Commission.

If the final index level is at least the initial level, the payout at maturity will be par plus any gain on the index times a participation rate of 110% to 125%. The exact rate will be set at pricing.

If the index declines by up to 10%, the payout will be par. Investors will lose 1% for each 1% that the index declines beyond 10%.

The notes are expected to price in November and settle in December.

Merrill Lynch & Co. will be the underwriter.

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