Merrill Lynch to price strategic return notes linked to Value 30

By Laura Lutz

Des Moines, Nov. 2 - Merrill Lynch & Co., Inc. plans to price three-year strategic return notes due December 2012 linked to the Value 30 index, according to an FWP filing with the Securities and Exchange Commission.

If the notes are not redeemed early, the payment at maturity will be the net investment value.

Payout at maturity will be $9.875 plus any index increase or minus any index decline, as applicable. In addition, the index level will be reduced by a 1% adjustment factor annually. To receive at least par, the index level must increase by about 1.27%.

Holders can exchange the notes ahead of maturity during a period in December of each year. The redemption amount will be calculated in the same manner as the payout at maturity.

Merrill Lynch said it applied to list the notes on the American Stock Exchange under the symbol "SVE."

The notes are expected to settle in December.

Merrill Lynch & Co. will be the agent.

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