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Merrill Lynch to price Accelerated Return Notes linked to S&P 500 index
By E. Janene Geiss
Philadelphia, Aug. 31 - Merrill Lynch & Co., Inc. plans to price an issue of Accelerated Return Notes due December 2008 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
Payout at maturity is par plus triple any gain on the index, up to a maximum total return of 14% to 18%, with the exact cap to be set at pricing.
Investors will be fully exposed to any decline in the basket.
The notes are expected to price in September or October and settle in October or November.
Merrill Lynch & Co. is the underwriter.
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