Published on 9/5/2007 in the Prospect News Structured Products Daily.
New Issue: Merrill Lynch prices $9.3 million Accelerated Return Notes linked to PHLX Defense Sector index
By Angela McDaniels
Seattle, Sept. 5 - Merrill Lynch & Co., Inc. priced $9.3 million of 0% Accelerated Return Notes due Nov. 7, 2008 linked to the PHLX Defense Sector index, according to a 424B3 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10.00 plus triple any index gain, subject to a maximum return of 14.4%. Investors will be fully exposed to any index decline.
Merrill Lynch & Co. is the underwriter.
| Issuer: | Merrill Lynch & Co., Inc.
|
| Issue: | Accelerated Return Notes
|
| Underlying index: | PHLX Defense Sector
|
| Amount: | $9.3 million
|
| Maturity: | Nov. 7, 2008
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus triple any index gain, capped at a maximum return of 14.4%; full exposure to any index decline
|
| Initial index level: | 357.91
|
| Pricing date: | Aug. 28
|
| Settlement date: | Sept. 7
|
| Underwriter: | Merrill Lynch & Co.
|
| Fees: | 2%
|
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