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Merrill Lynch to price index return notes linked to S&P 500
By Laura Lutz
Des Moines, March 12 - Merrill Lynch & Co., Inc. plans to price an issue of 0% accelerated return notes due April 2008 linked to the S&P 500 index, according to a 424B3 filing with the Securities and Exchange Commission.
Payout at maturity will be par plus triple any gain on the index, up to a maximum payout that will be between 114% and 118%. The exact cap will be set at pricing.
If the basket declines, investors will receive par times the basket performance.
The notes are expected to price in March and settle in April.
Merrill Lynch & Co. will be the underwriter.
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