By Susanna Moon
Chicago, March 25 - Merrill Lynch & Co., Inc. priced $37.4 million of 12% callable Stock Return Income Debt Securities (Strides) due March 26, 2010 linked to Monsanto Co. common stock, according to a 424B3 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The payout at maturity will be a number of Monsanto shares equal to par of $25 divided by the initial volume-weighted average share price.
The Strides are callable with a yield to call of 21.3% beginning on March 27, 2009.
Merrill Lynch & Co. is the agent.
| Issuer: | Merrill Lynch & Co., Inc.
|
| Issue: | Callable Stock Return Income Debt Securities (Strides)
|
| Underlying stock: | Monsanto Co. (NYSE: MON)
|
| Amount: | $37.4 million
|
| Maturity: | March 26, 2010
|
| Coupon: | 12%, payable quarterly
|
| Price: | Par of $25
|
| Payout at maturity: | 0.22829883 of a Monsanto share, equal to $25 divided by the initial volume-weighted average share price of $109.5056 on March 18
|
| Call option: | Beginning March 27, 2009 with a yield to call of 21.3%
|
| Pricing date: | March 18
|
| Settlement date: | March 26
|
| Agent: | Merrill Lynch & Co.
|
| Fees: | 2%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
