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Published on 6/6/2008 in the Prospect News Structured Products Daily.

Merrill to sell leveraged bear notes linked to oil

By Susanna Moon

Chicago, June 6 - Merrill Lynch & Co., Inc. plans to sell leveraged bear notes due July 2009 linked to the crude oil, according to a 424B3 filing with the Securities and Exchange Commission.

Payout at maturity will be par plus 150% of any decline in the price of crude oil, up to a maximum payment of $11.40 to $11.80 per note, with the exact cap to be set at pricing.

If the price of oil rises by up to 10%, the payout will be par. Beyond a 10% rise, the payout will be par minus the absolute value of the price change.

The notes are expected to settle in July.

Merrill Lynch & Co. will be the agent.


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