Published on 12/29/2006 in the Prospect News Structured Products Daily.
New Issue: Merrill Lynch sells $2.53 million Accelerated Return Notes linked to gold
By E. Janene Geiss
Philadelphia, Dec. 29 - Merrill Lynch & Co., Inc. priced a $2.53 million issue of 0% Accelerated Return Notes due Feb. 29, 2008 linked to the gold spot price, according to a 424B3 filing with the Securities and Exchange Commission.
Payout at maturity will be par plus triple any gain on the price of gold. The return will be capped at $11.40 per $10.00 unit. Investors will have full exposure to any decline.
Merrill Lynch & Co. is the underwriter.
Issuer: | Merrill Lynch & Co., Inc.
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Issue: | Accelerated Return Notes medium-term series C notes
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Underlying index: | Gold spot price
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Amount: | $2.53 million
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Maturity: | Feb. 29, 2008
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | Triple the gain on the price of gold, capped at $11.40 per $10.00 principal amount; full exposure to any decline
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Call: | Non-callable
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Pricing date: | Dec. 21
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Settlement date: | Dec. 29
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Underwriter: | Merrill Lynch & Co.
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Agent fees: | 2%
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