Merrill Lynch to price principal-protected range notes linked to Dow Jones Industrial Average

By E. Janene Geiss

Philadelphia, Sept. 25 - Merrill Lynch & Co., Inc. plans to price zero-coupon 100% principal-protected range notes due November 2009 linked to the Dow Jones Industrial Average, according to an FWP filing with the Securities and Exchange Commission.

If the index stays within the upper range limit and the lower range limit, the payout at maturity will be par of $10 plus an additional $1.

The upper and lower range limits will be 15.5% to 19.5% above and below the initial index level, respectively. The exact limits will be set at pricing.

Investors will receive at least par.

The issuer has applied to list the notes on the NYSE Arca under the symbol "NIJ."

The notes are expected to price and settle in October or November.

Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC are the agents.

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