Merrill Lynch plans notes linked to S&P Diversified Trends Indicator Price Return

By Susanna Moon

Chicago, May 2 - Merrill Lynch & Co., Inc. plans to price floating-rate notes due May 2009 linked to the S&P Diversified Trends Indicator Price Return index, according to a 424B3 filing with the Securities and Exchange Commission.

Interest will be set at three-month Libor minus 12 basis points, payable quarterly.

The notes will automatically be redeemed if the index drops to or below 85% of its initial level during the life of the notes. In that case, investors will receive par plus accrued interest.

Payout at maturity will be par plus triple the final return.

The notes are expected to price and settle in May.

Merrill Lynch & Co. is the underwriter.

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