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Merrill Lynch to price 0% return enhanced notes linked to S&P 500 via JPMorgan
By E. Janene Geiss
Philadelphia, June 22 - Merrill Lynch & Co., Inc. plans to price 0% return enhanced notes due July 14, 2008 linked to the S&P 500 index via J.P. Morgan Securities Inc., according to an FWP filing with the Securities and Exchange Commission.
The notes are expected to price June 29 and settle July 5.
The payout at maturity will be double any positive return on the index up to a maximum return, which is expected to be at least 16.2% and will be determined at pricing. Investors are fully exposed to any decline in the index.
The final index level will be the average of the index's closing levels on each business day from July 2, 2008 to July 9, 2008.
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