Published on 1/29/2003 in the Prospect News Convertibles Daily.
New Issue: Merrill Lynch sells $52 million 6.5% callable Strides payable with IBM
New York, Jan. 29 - Merrill Lynch & Co., Inc. priced $52 million callable Strides due 2005 payable at maturity with International Business Machines Corp. stock, according to a filing with the Securities and Exchange Commission.
| Issuer: | Merrill Lynch & Co., Inc.
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| Issue: | Callable STock Return Income DEbt Securities (Strides) senior unsecured debt
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| Amount: | $52 million (2,080,000 units)
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| Maturity: | Feb. 1, 2005
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| Coupon: | 6.5%, payable quarterly beginning May 1, 2003
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| Price: | Par of $25
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| Call: | Feb. 2, 2004 onwards at price to give yield to call of 12.5%
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| Payout at maturity: | 0.31879623 shares of IBM stock (multiplier is $78.42 closing price of IBM stock on pricing date divided by $25 par)
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| Pricing date: | Jan. 27
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| Settlement: | Jan. 31
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| Underwriter: | Merrill Lynch & Co.
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| Listing: | "CSIB" on Nasdaq National Market
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