Merrill Lynch to price 11% callable Strides exchangeable for Home Depot

By Susanna Moon

Chicago, Dec. 27 - Merrill Lynch & Co. Inc. plans to price 11% callable Stock Return Income Debt Securities (Strides) due February 2010 payable at maturity with 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 divided by the initial volume-weighted average share price.

The Strides will be callable with a yield to call of 11.5% to 16.5% beginning in February 2009, with the exact percentage to be set at pricing.

The notes are expected to price in January and settle in February.

The company said it applied to list the Strides on Amex under the symbol "HRO."

Merrill Lynch & Co. will be the agent.

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