Published on 8/9/2006 in the Prospect News Convertibles Daily.
New Issue: Merrill Lynch prices $62.95 million 0% Mitts linked to Nikkei, Dow industrials, Euro Stoxx
By Jennifer Chiou
New York, Aug. 9 - Merrill Lynch & Co. said it priced a $62.95 million issue of 0% Market Index Target-Term Securities (Mitts) senior medium-term notes due Feb. 9, 2010 linked to a global equity index basket, according to a 424B3 filing with the Securities and Exchange Commission.
The underlying indexes include equal weights of the Nikkei 225, Dow Jones Industrial Average and Dow Jones Euro Stoxx 50.
Payout at maturity will be determined according to the performance of the index. If the ending level of the basket is greater than the initial level, holders will receive a return based on the basket gain multiplied by 109.5%. If the final index level is less than the initial level, investors will receive par.
Issuer: | Merrill Lynch & Co., Inc.
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Issue: | Market Index Target-Term Securities (Mitts) medium-term series C notes
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Underlying indexes: | Equally weighted Nikkei 225, Dow Jones Industrial Average, Dow Jones Euro Stoxx 50
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Amount: | $62.95 million
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Maturity: | Feb. 9, 2010
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | If index gains, par plus 109.5% of increase in index; otherwise par
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Call: | Non-callable
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Pricing date: | Aug. 3
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Settlement date: | Aug. 9
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Underwriter: | Merrill Lynch & Co.
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