By Angela McDaniels
Tacoma, Wash., June 12 - Merrill Lynch & Co., Inc. priced $12 million of 100% principal-protected notes due June 12, 2028 linked to the 30-year and two-year Constant Maturity Swap (CMS) rates, according to a 424B3 filing with the Securities and Exchange Commission.
Interest is payable quarterly and equals 9% per year multiplied by the proportion of days on which the 30-year CMS rate is greater than or equal to the two-year CMS rate.
Beginning June 12, 2010, the notes are callable at par on any interest payment date.
If the notes are not called, the payout at maturity will be par.
Merrill Lynch & Co. and First Republic Securities Co., LLC are the underwriters.
| Issuer: | Merrill Lynch & Co., Inc.
|
| Issue: | 100% principal-protected notes
|
| Amount: | $12 million
|
| Maturity: | June 12, 2028
|
| Coupon: | 9% per year multiplied by proportion of days on which 30-year CMS rate is greater than or equal to two-year CMS rate; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates from June 12, 2010 onward
|
| Pricing date: | June 10
|
| Settlement date: | June 12
|
| Underwriters: | Merrill Lynch & Co. and First Republic Securities Co., LLC
|
| Fees: | 3.25%
|
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