Merrill Lynch to issue 0% notes linked to Asian currency basket

By Jennifer Chiou

New York, Dec. 22 - Merrill Lynch & Co., Inc. plans to price an issue of 0% principal-protected notes due February 2008 linked to a basket of Asian currencies, according to a 424B3 filing with the Securities and Exchange Commission.

The notes are expected to settle in February.

The basket will include long positions in the Chinese renminbi, Indian rupee, Japanese yen and Singapore dollar, equally weighted, against the dollar.

The payout at maturity will be par of $10.00 plus any positive return on the basket, which will be multiplied by an additional percentage expected to be between 100% and 115%. Investors will receive at least par.

Merrill Lynch & Co. will be the underwriter.

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