Published on 2/19/2004 in the Prospect News Convertibles Daily.
New Issue: Merrill prices $150 million 7% callable Strides exchangeable for Intel
New York, Feb. 19 - Merrill Lynch & Co. Inc. priced $150 million one-year 7% callable Strides (Stock Return Income Debt Securities) payable at maturity with Intel Corp. common stock, according to a filing with the Securities and Exchange Commission.
| Issuer: | Merrill Lynch & Co. Inc.
|
| Issue: | Callable Strides (Stock Return Income Debt Securities) senior notes
|
| Underlying stock: | Intel Corp.
|
| Amount: | $150 million
|
| Maturity: | Feb. 22, 2005
|
| Coupon: | 7%
|
| Price: | Par of $25
|
| Exchange ratio: | 0.81752780 at maturity
|
| Exchange price: | $30.58 (average price of stock on pricing date)
|
| Call: | Aug. 23, 2004 onwards at price to give yield to call of 13.5%
|
| Pricing date: | Feb. 17
|
| Settlement date: | Feb. 20
|
| Underwriter: | Merrill Lynch & Co.
|
| Distribution: | Off shelf
|
| Listing: | "IEL" on American Stock Exchange
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
