New Issue: Merrill Lynch sells $70.98 million 8% STRIDES payable with Applied Materials

New York, Feb. 20 - Merrill Lynch & Co., Inc. priced $70.98 million 8% callable stock return income debt securities (STRIDES) payable with Applied Materials, Inc., according to a filing with the Securities and Exchange Commission.

At maturity, the holder receives one share of Applied Materials, Inc. stock. However, Merrill may call the securities earlier at a price calculated to give a yield to call of 24%.

The senior unsecured securities were priced on Feb. 14 via Merrill Lynch & Co.

Issuer:	Merrill Lynch & Co., Inc.
Amount:	$70.98 million (1.5 million units)
Maturity:	Feb. 23, 2004
Coupon:	8%, payable quarterly beginning May 23, 2002
Price:	Par of $47.32 (equivalent to closing price of Applied Materials stock on pricing date of Feb. 14)
Call:	Feb. 24, 2003 at price to give yield to call of 24%
Payout at maturity:	One share of Applied Materials, Inc. stock
Listing:	"AMW" on American Stock Exchange
Settlement:	Feb. 21

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