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Merrill Lynch to price 0% return enhanced notes linked to Russell 2000 via JPMorgan
By E. Janene Geiss
Philadelphia, March 23 - Merrill Lynch & Co., Inc. plans to price an offering of 0% return enhanced notes due April 9, 2008 linked to the Russell 2000 index via underwriter J.P. Morgan Securities Inc., according to an FWP filing with the Securities and Exchange Commission.
The notes are expected to price March 30 and settle April 4.
The payout at maturity will be par plus double any gain on the index, subject to a maximum total return that will be determined at pricing and will be at least 20.4%. Investors will lose 1% for every 1% the index declines.
The final index level will be the average of the index closing levels on March 31, April 1, April 2, April 3 and April 4, 2008.
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