By Susanna Moon
Chicago, June 18 - Merrill Lynch & Co., Inc. priced $357,000 of 12.1% enhanced coupon notes due June 25, 2009 linked to the common stock of Apple Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly.
If the final share price is greater than or equal to the enhanced level - 112.1% of the initial share price - the payout at maturity will be par plus 5%.
If Apple shares finish below the enhanced level but at or above the threshold level - 90% of the initial share price - the payout will be par. Investors will lose 1% for every 1% that the final share price is below the threshold level.
Merrill Lynch & Co. and First Republic Securities Co., LLC are the underwriters.
| Issuer: | Merrill Lynch & Co., Inc.
|
| Issue: | Enhanced coupon notes
|
| Underlying stock: | Apple Inc. (Nasdaq: AAPL)
|
| Amount: | $357,000
|
| Maturity: | June 25, 2009
|
| Coupon: | 12.1%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus 5% if final share price is at least the enhanced level; par if the final share price is below the enhanced level and at least 90% of initial level; 1% loss for each 1% drop beyond threshold level
|
| Initial share price: | $182.2017
|
| Enhanced level: | $204.2481, or 112.1% of initial price
|
| Threshold level: | $163.1895, or 90% of initial price
|
| Pricing date: | June 11
|
| Settlement date: | June 18
|
| Underwriters: | Merrill Lynch & Co. and First Republic Securities Co., LLC
|
| Fees: | 1.75%
|
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