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Merrill Lynch to price Accelerated Return Notes linked to Russell 1000
By Susanna Moon
Chicago, Aug. 24 - Merrill Lynch & Co., Inc. plans to price an issue of Accelerated Return Notes due December 2008 linked to the Russell 1000 growth index, according to an FWP filing with the Securities and Exchange Commission.
Payout at maturity is par plus triple any gain on the index, up to a maximum total return of 12% to 16%, with the exact cap to be set at pricing.
If the basket declines, investors will receive par times the index performance.
The notes are expected to price in September and settle in October.
Merrill Lynch & Co. is the underwriter.
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