By Jennifer Chiou
New York, May 21 - Merrill Lynch & Co., Inc. priced $10 million of 100% principal-protected callable notes due May 21, 2018 linked to Libor, according to a 424B3 filing with the Securities and Exchange Commission.
For each quarter, the notes will bear interest at 8.3% multiplied by the proportion of days on which Libor is greater than or equal to 0% and less than or equal to 6.5%. Interest will be reset and payable quarterly.
The notes will be callable at par on any interest payment date beginning on May 21, 2010.
The payout at maturity will be par plus accrued interest.
Merrill Lynch & Co. and First Republic Securities Co., LLC are the underwriters.
| Issuer: | Merrill Lynch & Co., Inc.
|
| Issue: | 100% principal-protected callable notes
|
| Underlying rate: | Libor
|
| Amount: | $10 million
|
| Maturity: | May 21, 2018
|
| Coupon: | 8.3% times proportion of days on which Libor is at least 0% and no greater than 6.5%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par plus accrued interest on any quarterly interest payment date beginning on May 21, 2010
|
| Pricing date: | May 20
|
| Settlement date: | May 21
|
| Underwriters: | Merrill Lynch & Co. and First Republic Securities Co., LLC
|
| Fees: | 0.75%
|
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