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Merrill Lynch plans 95% principal-protected notes linked to euro against dollar
By Laura Lutz
Des Moines, May 5 - Merrill Lynch & Co., Inc. plans to price zero-coupon 95% principal-protected notes due December 2010 linked to the euro against the dollar, according to a 424B3 filing with the Securities and Exchange Commission.
The payout at maturity will be 95% of par plus 150% of any percentage increase in the exchange rate. Investors will receive at least 95% of par.
The notes are expected to price and settle in May.
Merrill Lynch, Pierce, Fenner & Smith Inc. and its affiliate First Republic Securities Co., LLC are the underwriters.
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