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Merrill Lynch to price capped leveraged index return notes linked to MSCI EAFE
By Jennifer Chiou
New York, July 2 - Merrill Lynch & Co., Inc. plans to price zero-coupon capped leveraged index return notes due January 2010 linked to the MSCI EAFE index, according to an FWP filing with the Securities and Exchange Commission.
Payout at maturity will be par plus double any index gain, with the return capped at between 15% and 19%. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 15% and will lose 1% for each 1% decline beyond 15%.
The notes are expected to price and settle in July.
Merrill Lynch, Pierce, Fenner & Smith Inc. and its affiliate First Republic Securities Co., LLC are the underwriters.
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