New Issue: Merrill Lynch sells $46 million Accelerated Return Notes linked to gold

By Susanna Moon

Chicago, July 14 - Merrill Lynch & Co., Inc. priced $46 million of 0% Accelerated Return Notes due Sept. 29, 2009 linked to the gold spot price, according to a 424B3 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any gain on the price of gold, up to a maximum return of 30%.

Investors will be exposed to any decline in the gold spot price.

Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC are the underwriters.

Issuer:	Merrill Lynch & Co., Inc.
Issue:	Accelerated Return Notes
Underlying commodity:	Gold spot price
Amount:	$46 million
Maturity:	Sept. 29, 2009
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus triple any gain in gold price, capped at 30% return; exposure to losses
Initial price:	$921
Pricing date:	July 8
Settlement date:	July 14
Underwriters:	Merrill Lynch, Pierce, Fenner & Smith Inc., First Republic Securities Co., LLC
Fees:	2%

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