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Merrill Lynch plans 97% principal protected notes linked to currency basket against euro
By Laura Lutz
Des Moines, April 30 - Merrill Lynch & Co., Inc. plans to price zero-coupon 97% principal protected notes due May 2010 linked to a currency basket, according to an FWP filing with the Securities and Exchange Commission.
The basket consists of equal weights of the Indonesian rupiah, the Russian ruble, the Malaysian ringgit and the Philippine peso, all against the euro.
The payout at maturity will be 97% of par plus 220% of any gain on the index. Investors will receive at least 97% of par.
The notes are expected to price and settle in May.
Merrill Lynch, Pierce, Fenner & Smith Inc. and its affiliate First Republic Securities Co., LLC are the underwriters.
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