Merrill Lynch to price 11% Strides linked to Home Depot

By Laura Lutz

Des Moines, Nov. 28 - Merrill Lynch & Co., Inc. plans to price two-year 11% callable Stock Return Income Debt Securities (Strides) payable at maturity with the Home Depot, Inc. common stock, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

The payout at maturity will be a number of Home Depot shares equal to par of $25 divided by the initial volume-weighted average share price.

The Strides will be callable with a yield to call of 12% to 16% beginning one year after issue. The exact yield to call will be determined at pricing.

The notes are expected to price and settle in December.

The company said it applied to list the Strides on the American Stock Exchange under the symbol "HRO."

Merrill Lynch & Co. will be the agent.

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