Merrill Lynch to price 0% Accelerated Return Notes linked to gold

By Angela McDaniels

Seattle, March 28 - Merrill Lynch & Co., Inc. plans to price an issue of 0% Accelerated Return Notes due July 2008 linked to the gold spot price, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are expected to price in April or May and to settle in May.

The payout at maturity will be par of $10.00 plus triple any percentage increase in the gold spot price, subject to a maximum return that is expected to be between 12.5% and 16.5% and will be determined at pricing. Investors will be fully exposed to any percentage decline in the gold spot price.

Merrill Lynch, Pierce, Fenner & Smith Inc. will be the underwriter and will receive an underwriting discount of 2%.

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