Merrill Lynch to price 9% Strides linked to Exxon Mobil

By Jennifer Chiou

New York, Nov. 9 - Merrill Lynch & Co., Inc. plans to price two-year 9% callable Stock Return Income Debt Securities (Strides) payable at maturity with Exxon Mobil Corp. common stock, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

The payout at maturity will be a number of Exxon Mobil shares equal to par of $25 divided by the initial volume-weighted average share price.

The Strides will be callable with a yield to call of 10% to 14% beginning one year after issue. The exact yield to call will be determined at pricing.

The notes are expected to price in November and settle in December.

The company said it applied to list the Strides on Amex under the symbol "MIX."

Merrill Lynch & Co. will be the agent.

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